Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Personal Loan Rates Hold at 11.013%, a Second Straight Report Above 11%
Personal loan rates held steady at 11.013% APR, a second straight report above 11%, and signature loan rates held steady at 11.201%. Debt consolidation loan rates rose 0.049 points to 10.503%. A personal loan's rate is fixed once the loan is signed.
Average personal loan rates held steady at 11.013% APR, a second straight report above 11%, and rates on signature loans held steady at 11.201%. Debt consolidation loan rates rose 0.049 points to 10.503% from a reporting pool of 126 institutions.
In a MonitorBankRates reader survey taken September 16 to 23, 36 of the 69 readers asked on our lending pages (52%) said they would hold off on borrowing; the margin of error is 11.8 points. The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16.
Key takeaways
- Personal loan rates held steady at 11.013% APR after 11.009% on September 23, a second straight report above 11%; signature loan rates held steady at 11.201%.
- Debt consolidation loan rates rose 0.049 points to 10.503% from a reporting pool of 126 institutions.
- The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16 by a 12-0 vote, its first increase since 2023; these figures were collected September 24, eight days after the announcement.
- 36 of the 69 readers asked on our lending pages in the September 16 to 23 survey (52%) said they would hold off on borrowing.
- Borrowing $10,000 over 36 months at the 11.013% personal loan average runs about $327.45 a month, with roughly $1,788 in total interest.
Personal and signature loan averages stayed above 11%
Personal loan rates by category, national average APR since late March
Average APRs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
Personal loan rates averaged 10.899% on September 16, 11.009% on September 23 and 11.013% this week. Signature loan rates averaged 10.983% on September 16, 11.206% on September 23 and 11.201% this week. More than 1,500 institutions report rates in each of these two categories.
Debt consolidation loan rates rose 0.049 points to 10.503%, after 10.454% on September 23. That average comes from 126 reporting institutions, the smallest pool of the three, and with a pool that size a few institutions entering or leaving can move the average. Rates behind all three averages run from roughly 2% APR to 30% APR depending on credit profile.
Change since September 23, by loan category (percentage points)
This report's averages, September 23 to September 30. Red bars rose; green bars fell.
Personal loan rates this week: September 23 vs. September 30
| Loan Category | September 23 APR | September 30 APR | Change Since September 23 |
|---|---|---|---|
| Signature Loans ▼Unsecured, based on your signature and credit | 11.206% | 11.201% | ▼ -0.005 |
| Personal Loans ▲The main category; deepest lender pool | 11.009% | 11.013% | ▲ +0.004 |
| Debt Consolidation Loans ▲Loans marketed for combining balances; small reporting pool | 10.454% | 10.503% | ▲ +0.049 |
| Compare live offers: signature loans · all personal loan rates | |||
| All APRs are national averages of what real licensed lenders are actually quoting to borrowers, not promotional teaser rates or rate aggregator estimates. This comparison runs September 23 to September 30, 2026. The debt consolidation category draws from a small reporting pool. Source: MonitorBankRates.com. | |||
A personal loan's rate is fixed once it is signed
The Federal Reserve raised its benchmark rate to 3.75% to 4.00% on Wednesday, September 16, its first increase since 2023, by a 12 to 0 vote. The figures in this report were collected September 24, eight days after the announcement. A personal loan's rate is fixed once the loan is signed, so the increase reaches only offers on loans not yet signed. Lenders price offers from a borrower's credit profile, the loan term, and their own standards, and offers in our data run from roughly 2% APR to near 30%.
Monthly payment and interest on a $10,000 loan
At the 11.013% personal loan average, borrowing $10,000 over 36 months runs about $327.45 a month with roughly $1,788 in total interest. The debt consolidation calculator works from live MonitorBankRates rate data for borrowers weighing existing balances against a new loan, and the budget calculator shows where a loan payment fits among monthly income and expenses; both use rate data computed daily from more than 8,000 banks and credit unions. Borrowers comparing local lenders can line up Illinois personal loan rates against these national averages, and category history is on our personal loan rate trends page.
Personal loan averages on September 30
Personal loans average 11.013%, signature loans 11.201%, and debt consolidation loans 10.503%. A personal loan's rate is fixed once signed. The rate an individual borrower is offered depends on credit profile, loan term, and lender, and offers in our data span roughly 2% to 30% APR.
Data Coverage & Methodology
All APRs in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed lenders are actually quoting to borrowers, not promotional teaser rates or rate aggregator estimates.
As of September 30, 2026, these averages were calculated from 7,431 individual rates verified at 2,653 banks and credit unions; the latest collection ran September 24, 2026. The table below shows how many lenders reported rates in each category.
| Loan Category | Institutions | Rates Verified |
|---|---|---|
| Personal Loans | 1,576 | 3,924 |
| Debt Consolidation Loans | 126 | 233 |
| Signature Loans | 1,618 | 3,999 |
| Total (distinct institutions) | 2,653 | 7,431 |
Category counts overlap because a lender's products can match more than one category; the total row counts each institution once across the full personal loan universe.
This report is for general information and is not financial advice. The APR any borrower receives depends on credit profile, loan term, and lender; confirm current offers with lenders before making decisions.
