Chicago, Illinois Best Personal Loan Rates - August 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
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Current personal loan options available to borrowers in Chicago, Illinois include: Chicago Firefighters Credit UnionChicago Firefighters Credit Union6230 S Central Ave, Chicago, IL, 60638A+5.0 ★Texas Ratio: 0.51% offering Signature and Cosigner Loan at 5.25% APR, American Broadcast Employees Federal Credit UnionAmerican Broadcast Employees Federal Credit Union190 N State St, Chicago, IL, 60601A5.0 ★Texas Ratio: 8.88% offering Signature Loans at 7.75% APR, Justice Federal Credit UnionJustice Federal Credit Union2111 W Roosevelt Rd Ste 194, Chicago, IL, 60608 1128A5.0 ★Texas Ratio: 8.56% offering Personal Loan at 7.99% APR, ELCA Federal Credit UnionELCA Federal Credit Union8765 W Higgins Rd, Chicago, IL, 60631A5.0 ★Texas Ratio: 7.33% offering Personal Loans at 7.99% APR, and South Side Community Federal Credit UnionSouth Side Community Federal Credit Union5401 S Wentworth Ave, Chicago, IL, 60609 6349A+5.0 ★Texas Ratio: 0.72% offering Signature Loan at 8.01% APR. Personal loan rates as of August 28, 2026 according to verified data from MonitorBankRates.
Chicago has 25 local institutions in our database, with personal loan rates as low as 5.25% APR from Chicago Firefighters Credit Union at 6230 S Central Ave, Chicago, IL, 60638. Use the tabs below to compare all available personal loan types. Rates are continually updated — we recommend checking back frequently.
We empower borrowers with transparent, proprietary financial health metrics—including A-F Safety Grades, verified Star Ratings, and Texas Ratios—so you can confidently borrow from a stable, highly-rated institution in Chicago, Illinois.
Personal loan rates reflect recent market quotes and representative offers available to borrowers in Chicago, Illinois. Rates shown are typically “as low as” APRs for borrowers with excellent credit. Your final approved rate will depend on your credit history, credit score, income, and loan amount. Personal Loan Rates Last Updated and Verified: August 28, 2026
Chicago Personal Loan Rates
Credit Score: A 700 & Up
Credit Score: A 700 & Up
No additional details available.
No additional details available.
No additional details available.
For major expenses or to consolidate credit card debt. Up to $25,000.
Qualifications Required: Must provide most recent two pay stubs, proof of rent or mortgage, maintain a $50.00 deposit balance and demonstrate the capacity to repay the loan.; Application fee: $20.00. To apply for a $10,000 loan, your credit score has to be 650 or above.
No additional details available.
Credit Score: A 700 & Up
No additional details available.
No additional details available.
No additional details available.
from
Rates Subject To Change Without Notice. Rates vary according to credit worthiness and term of loan, subject to change without notice. The featured rate listed assumes an automatic payment method and includes a 0.25% discount.
As Low As
Loan Amount: $500-$40,000
No additional details available.
1
Credit Score: A 700-above
As Low As
No additional details available.
No additional details available.
As Low As
No additional details available.
Credit Score: A 700 & Up
Includes a 0.5% discount for enrolling in automatic payments. Your APR may be as low as 9.99% or as high as 17.49% for the term of your loan. The lowest rate quoted assumes excellent credit, a loan term of 36 or 48 months, and includes a 0.5% APR discount for enrollment in automatic payments at the time of loan origination. Your APR will depend on a variety of factors including your creditworthiness, term of loan, and existing relationship with Citi. If you are a Citi banking Relationship Tier customer at the time of application, you may be eligible for an APR discount. If multiple relationship-based discounts are available, whether based on a Citi banking Relationship Tier or a qualifying credit card relationship, only the highest discount will apply. If you are in default, your APR may increase by 2.00%. Rates subject to change without notice.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Score: A: 700 and Up
As low as
No additional details available.
No additional details available.
No additional details available.
Credit Score: A 700-above
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Loans under $10,000 have a maximum term of 60 months.
No additional details available.
No additional details available.
No additional details available.
As Low As; For example, a $5,000 loan for a term of 48 months with a 10.99% APR would have a monthly payment amount of $135.81 fully protected. Open to qualified borrowers. Some restrictions apply. Rates subject to change without notice.
Credit Score: A 700 & Up
As Low As
Credit Score: B 625-699
Credit Score: A 700-above
No additional details available.
As low as
As Low As
No additional details available.
No additional details available.
Score: A: 650 - 699
No additional details available.
No additional details available.
As Low As
Credit Score: B 640-699
As Low As
No additional details available.
Credit Score: A 700 & Up
As Low As
Loan Amount: $250-$40,000
Credit Score: B 640-699
Score: B: 600 - 649
No additional details available.
As Low As
Credit Score: B 625-699
Credit Score: C 550-639
As Low As
There is a minimum loan amount of $5,000, a maximum loan amount of $48,000, a minimum 12-month term, and a floor rate of 12.99% rate (14.60% APR).There is a $124 Processing Fee on all Signature Loans. Loan Payment Example: A Signature Loan of $5,000 at 12.99% rate (14.60% APR) for a 36-month term would result in a monthly payment of approximately $168.45. There is a minimum loan amount of $10,000 for a 60-month term. Rate and payment may vary based on creditworthiness and loan terms. There is a $124 Processing Fee. Loan rates as of August 25, 2026.
No additional details available.
No additional details available.
Credit Score: C 550-639
Credit Score: C 550-625
Score: C: 550 - 599
No additional details available.
Credit Score: D 549 - below
As Low As
As Low As
Credit Score: D below 550
As Low As
Score: D: 500 - 549
No additional details available.
Qualifications Required: Must provide most recent two pay stubs, maintain a $50.00 deposit balance, be a credit union member for thirty days and have an income of $1,000 per month.; Application fee: $20.00
Flat $125 origination fee for $1,000 loan.
Flat $75 origination fee for $500 loan.
No additional details available.
**
As Low As
Unsecured Loan
Limit of $10,000.00
As Low As
As Low As
The average credit card interest rate hovers around 28.00%!; Credit Union rates range from ONLY 7.25% to 13.25%; A Debt Consolidation Loan may be as much as $15,000!
As low as
As Low As
Personal Loan
Loan special-good through 8/31/2026
No additional details available.
No additional details available.
Limit of $10,000.00
Rates are subject to change. Please contact Financial Partners Credit Union for current rate and eligibility details.
As low as; *
No additional details available.
As Low As; $45.27 per month for 24 months
As low as
As Low As
No additional details available.
Up to $10,000
No additional details available.
As low as
$24.67 per month for 48 months
No additional details available.
Limit of $10,000.00
As Low As
As Low As
Based on loan amount and credit qualifications
*
As Low As
Up to $10,000
$10,000.01-$15,000
No additional details available.
As Low As
No additional details available.
No additional details available.
As low as
$10,000.01-$15,000
$10,000.01-$15,000
As Low As; up to $48,000
As Low As
As Low As
As Low As
No additional details available.
Fixed APR as low as; All loans subject to credit approval. Rates displayed are the lowest rates available including a discount for automatic payment. Rates subject to change without notice. Rates and term subject to credit qualification.
No additional details available.
No additional details available.
As Low As
$10,001 to $20,000
$20.98 per month for 60 months
$10,000.01-$15,000
$10,000.01-$15,000
$10,000.01-$15,000
As Low As; Rate includes discounts2, see details below
As Low As; Click for More Information
As Low As; Rate includes discounts2, see details below
No additional details available.
No additional details available.
No additional details available.
No additional details available.
No additional details available.
As low as
As Low As
As Low As
Limit of $10,000.00
Rates effective as of 11/13/2025
$1,000
As Low As; Rate includes discounts for platinum checking and automatic payment.
As Low As
As low as; Rates are subject to change, credit history and other factors including but not limited to- model year, term, and financing. Terms and financing are subject to qualifying conditions. Other rates, terms and conditions available. Contact GMFCU for complete details.
No additional details available.
Rates are variable and may change. APR* applies.
As Low As
$10,001 to $20,000
$10,000.01-$15,000
$10,000.01-$15,000
$10,000.01-$15,000
$10,000.01-$15,000
up to $10,000
$5,000 max.
$5,000
No additional details available.
As Low As
As low as; Annual Percentage Rate
No additional details available.
Based on credit history as low as:
No additional details available.
No additional details available.
As low as
$15,000.01-$20,000
$10,000.01-$15,000
$10,000.01-$15,000
$10,000.01-$15,000
As Low As
As Low As
No additional details available.
$10,000.01-$15,000
$15,000.01-$20,000
$10,000.01-$15,000
$10,000.01-$15,000
No additional details available.
No additional details available.
As low as
Personal Line-of-Credit
No additional details available.
Chicago Personal Loan Rates
No additional details available.
For major expenses or to consolidate credit card debt. Up to $25,000.
No additional details available.
No additional details available.
Rates Subject To Change Without Notice. Rates vary according to credit worthiness and term of loan, subject to change without notice. The featured rate listed assumes an automatic payment method and includes a 0.25% discount.
Loan Amount: $500-$40,000
No additional details available.
Credit Score: A 700-above
No additional details available.
Includes a 0.5% discount for enrolling in automatic payments. Your APR may be as low as 9.99% or as high as 17.49% for the term of your loan. The lowest rate quoted assumes excellent credit, a loan term of 36 or 48 months, and includes a 0.5% APR discount for enrollment in automatic payments at the time of loan origination. Your APR will depend on a variety of factors including your creditworthiness, term of loan, and existing relationship with Citi. If you are a Citi banking Relationship Tier customer at the time of application, you may be eligible for an APR discount. If multiple relationship-based discounts are available, whether based on a Citi banking Relationship Tier or a qualifying credit card relationship, only the highest discount will apply. If you are in default, your APR may increase by 2.00%. Rates subject to change without notice.
Credit Score: A 700-above
As Low As; For example, a $5,000 loan for a term of 48 months with a 10.99% APR would have a monthly payment amount of $135.81 fully protected. Open to qualified borrowers. Some restrictions apply. Rates subject to change without notice.
Credit Score: A 700-above
No additional details available.
No additional details available.
Credit Score: B 640-699
Loan Amount: $250-$40,000
Credit Score: B 640-699
No additional details available.
Credit Score: C 550-639
Credit Score: C 550-639
No additional details available.
Credit Score: D 549 - below
No additional details available.
**
Limit of $10,000.00
As Low As
Personal Loan
Loan special-good through 8/31/2026
No additional details available.
Limit of $10,000.00
Rates are subject to change. Please contact Financial Partners Credit Union for current rate and eligibility details.
No additional details available.
No additional details available.
Limit of $10,000.00
As Low As
Based on loan amount and credit qualifications
No additional details available.
No additional details available.
No additional details available.
As Low As; up to $48,000
As Low As
No additional details available.
No additional details available.
No additional details available.
As Low As; Click for More Information
No additional details available.
No additional details available.
No additional details available.
No additional details available.
As Low As
Limit of $10,000.00
$1,000
As Low As; Rate includes discounts for platinum checking and automatic payment.
As Low As
As low as; Rates are subject to change, credit history and other factors including but not limited to- model year, term, and financing. Terms and financing are subject to qualifying conditions. Other rates, terms and conditions available. Contact GMFCU for complete details.
Rates are variable and may change. APR* applies.
As Low As
up to $10,000
No additional details available.
As low as; Annual Percentage Rate
No additional details available.
No additional details available.
As Low As
No additional details available.
No additional details available.
Chicago Debt Consolidation Loan Rates
As Low As
The average credit card interest rate hovers around 28.00%!; Credit Union rates range from ONLY 7.25% to 13.25%; A Debt Consolidation Loan may be as much as $15,000!
As Low As; Rate includes discounts2, see details below
The average credit card interest rate hovers around 28.00%!; Credit Union rates range from ONLY 7.25% to 13.25%; A Debt Consolidation Loan may be as much as $15,000!
Chicago Signature Loan Rates
Credit Score: A 700 & Up
Credit Score: A 700 & Up
No additional details available.
No additional details available.
Qualifications Required: Must provide most recent two pay stubs, proof of rent or mortgage, maintain a $50.00 deposit balance and demonstrate the capacity to repay the loan.; Application fee: $20.00. To apply for a $10,000 loan, your credit score has to be 650 or above.
Credit Score: A 700 & Up
No additional details available.
No additional details available.
from
As Low As
1
As Low As
Credit Score: A 700 & Up
No additional details available.
Score: A: 700 and Up
As low as
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Loans under $10,000 have a maximum term of 60 months.
No additional details available.
Credit Score: A 700 & Up
As Low As
Credit Score: B 625-699
No additional details available.
As low as
As Low As
No additional details available.
Score: A: 650 - 699
As Low As
As Low As
No additional details available.
Credit Score: A 700 & Up
As Low As
Score: B: 600 - 649
As Low As
Credit Score: B 625-699
As Low As
There is a minimum loan amount of $5,000, a maximum loan amount of $48,000, a minimum 12-month term, and a floor rate of 12.99% rate (14.60% APR).There is a $124 Processing Fee on all Signature Loans. Loan Payment Example: A Signature Loan of $5,000 at 12.99% rate (14.60% APR) for a 36-month term would result in a monthly payment of approximately $168.45. There is a minimum loan amount of $10,000 for a 60-month term. Rate and payment may vary based on creditworthiness and loan terms. There is a $124 Processing Fee. Loan rates as of August 25, 2026.
Credit Score: C 550-625
Score: C: 550 - 599
As Low As
As Low As
Credit Score: D below 550
Score: D: 500 - 549
As Low As
As Low As
As Low As
As low as
No additional details available.
As low as; *
As Low As; $45.27 per month for 24 months
As Low As
Up to $10,000
As low as
$24.67 per month for 48 months
No additional details available.
As Low As
As Low As
Up to $10,000
As low as
As Low As
Fixed APR as low as; All loans subject to credit approval. Rates displayed are the lowest rates available including a discount for automatic payment. Rates subject to change without notice. Rates and term subject to credit qualification.
No additional details available.
As Low As
$10,001 to $20,000
$20.98 per month for 60 months
As low as
As Low As
$1,000
As low as; Rates are subject to change, credit history and other factors including but not limited to- model year, term, and financing. Terms and financing are subject to qualifying conditions. Other rates, terms and conditions available. Contact GMFCU for complete details.
No additional details available.
$10,001 to $20,000
$5,000 max.
$5,000
Based on credit history as low as:
As low as
As Low As
As low as
No additional details available.
Chicago, IL Personal Loan Rate Trends
Compare local Chicago, IL personal loan rates against the statewide average
Daily personal loan rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
Illinois personal loan rates rose 0.377 points over the past 7 days to 10.921% APR.
Illinois signature loan rates fell 1.293 points over the past 7 days to 10.952% APR.
What Would Your Monthly Payment Be?
Estimated monthly payments at the current Nat'l average personal loan APR of 10.92%, across the terms lenders serving Chicago, Illinois most commonly offer. Personal loans are fixed-rate and fully amortizing, so the payment never changes and the balance reaches zero on schedule.
| Loan Amount | 24 Months | 36 Months | 48 Months | 60 Months |
|---|---|---|---|---|
| $5,000 | $232.86/mo | $163.51/mo | $129.04/mo | $108.52/mo |
| $10,000 | $465.71/mo | $327.01/mo | $258.07/mo | $217.03/mo |
| $15,000 | $698.57/mo | $490.52/mo | $387.11/mo | $325.55/mo |
| $25,000 | $1,164.28/mo | $817.54/mo | $645.18/mo | $542.58/mo |
| $35,000 | $1,629.99/mo | $1,144.55/mo | $903.25/mo | $759.61/mo |
Principal and interest only. Does not include any origination fee, which some lenders deduct from your loan proceeds. Your APR depends on credit score, income, loan amount, term, and lender underwriting.
Consolidating Credit Card Debt in Chicago, Illinois
Debt consolidation is the most common reason people take a personal loan, and the math is usually straightforward: credit cards carry variable double-digit APRs, while a personal loan locks in a fixed rate and a fixed payoff date. Below is the total interest on a $15,000 balance repaid over 48 months at the Nat'l personal loan average versus a range of typical credit card APRs.
| Repayment Option | APR | Monthly Payment | Total Interest | Interest Saved |
|---|---|---|---|---|
| Personal Loan — Nat'l average | 10.92% | $387.11 | $3,581 | — |
| Credit card at 18% APR | 18.00% | $440.62 | $6,150 | $2,569 |
| Credit card at 22% APR | 22.00% | $472.59 | $7,684 | $4,103 |
| Credit card at 26% APR | 26.00% | $505.76 | $9,276 | $5,695 |
The 18%, 22%, and 26% figures are illustrative points across the range card issuers commonly charge, not a published average — check your own statement for your actual APR, then use the calculator below to run your real numbers. This comparison assumes a fixed 48-month payoff in both cases; paying only the card minimum would stretch the timeline and raise interest substantially. Consolidation only helps if you avoid rebuilding a balance on the paid-off cards.
About Our Chicago, Illinois Personal Loan Rate Database
Our Chicago, Illinois tables currently track 83 banks and credit unions offering personal, debt consolidation, and signature loans to borrowers in this market. Every APR is sourced directly from the lender’s own website and re-verified regularly, so what you compare here is what lenders are actually advertising today — not stale or estimated numbers.
The lowest verified personal loan APR in our Chicago, Illinois database right now is 4.99% APR from United Community Credit Union. Advertised APRs are the lender’s best-qualified rate and generally require strong credit, so treat them as the floor of a range rather than a quote. Prequalifying with a soft credit check is the only way to see the rate you would actually receive.
How to Get the Best Personal Loan Rate in Chicago, Illinois
Prequalify With a Soft Credit Check
Most lenders serving Chicago, Illinois will show you an estimated APR using a soft inquiry that does not touch your credit score. Prequalify with several before formally applying — the advertised rate is the best-qualified rate, and the number you personally receive can differ by many percentage points.
Compare APR, Not the Interest Rate
Origination fees run as high as 10% of the amount borrowed and come straight out of your proceeds, so a loan with a lower interest rate can cost more than one with a higher rate and no fee. APR folds the fee in, which makes it the only number worth comparing across lenders.
Check Local Credit Unions First
Credit unions consistently publish the lowest personal loan APRs in our Illinois data, and many charge no origination fee. Membership is usually easier than expected — many accept anyone who lives, works, or worships in the area. Federal credit unions are also capped by regulation on what they may charge.
Borrow Only What You Need, for as Short a Term as You Can
Lenders often price longer terms at higher APRs, so a 60-month loan can cost more per dollar borrowed than a 36-month loan on top of accruing interest for longer. Take the shortest term whose payment comfortably fits your budget, and resist rounding the amount up.
- Buying a vehicle → a secured Chicago, Illinois auto loan will almost always beat an unsecured personal loan
- Home improvements and you have equity → compare home equity rates, though your home becomes collateral
- Not urgent → building the money in a Chicago, Illinois high-yield savings account costs nothing and earns interest instead of paying it
Chicago, Illinois Financial Snapshot
Local demographics and economic context for borrowers — Source: U.S. Census Bureau
A $387 monthly loan payment is roughly 9.4% of the median individual income in Chicago, Illinois. Lenders generally want your total monthly debt payments — including housing — to stay under roughly 36% of gross income, so consider the new payment alongside everything you already owe.
Personal Loan vs. Other Ways to Borrow
A personal loan is fast and requires no collateral, but it is not always the cheapest way to borrow. Here is how it compares to the main alternatives available to borrowers in Chicago, Illinois.
| Feature | Personal Loan | Credit Card | 0% Balance Transfer | Home Equity Loan / HELOC |
|---|---|---|---|---|
| Typical APR Level | ● Mid — fixed | ✗ Highest — variable | ✓ 0% for a promo window | ✓ Usually lowest |
| Collateral Required | ✓ None | ✓ None | ✓ None | ✗ Your home is at risk |
| Payment Predictability | ✓ Fixed payment and payoff date | ✗ Revolving, can last indefinitely | ● Rate jumps when promo ends | ● Fixed for loans, variable for HELOCs |
| Speed to Funding | ✓ Often 1–3 business days | ✓ Immediate if you hold the card | ● Card approval plus transfer time | ✗ Weeks — appraisal and closing |
| Upfront Costs | ● Origination fee up to ~10% | ✓ None | ● Transfer fee, typically 3–5% | ● Closing costs possible |
| Best For | Consolidation and one-off costs, no collateral | Small balances paid in full monthly | Debt you can clear inside the promo window | Large projects when you have equity and time |
General comparison for educational purposes; terms, eligibility, and pricing vary by lender and borrower credit profile. Borrowing against your home converts unsecured debt into secured debt — missed payments can put the property at risk. MonitorBankRates is not a lender or financial advisor.
Personal Loan Payment Calculator
Estimate your monthly payment, total interest, and what an origination fee actually costs you. We’ve prefilled the APR with the current Nat'l average — or click any rate on the right to apply it instantly.
Estimates assume a fixed-rate, fully amortizing loan with equal monthly payments and no prepayment. “Cash you actually receive” subtracts any origination fee deducted from proceeds — you still repay, and pay interest on, the full loan amount. Advertised APRs typically require strong credit; your approved rate may differ. This tool is for illustration and is not a loan offer.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Chicago, Illinois personal loan rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Personal Loan Rate Data: We aggregate personal loan rates for Chicago, Illinois directly from the official websites of banks, credit unions, and online lenders using our proprietary rate aggregation technology and a dedicated team of rate updaters. By sourcing data from the institutions’ own digital properties and verifying APRs regularly, every rate on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available personal loan products in Chicago, Illinois. We feature a comprehensive mix of lenders — from neighborhood credit unions and competitive regional banks to large national lenders available to borrowers in IL.
Regularly Updated APRs: Our rate updaters verify and update personal loan rates regularly. Because APRs can change based on market conditions and lender policies, every product features its own “last updated” date for full transparency. Personal loan APRs shown typically represent “as low as” rates for borrowers with excellent credit; your actual rate will depend on your credit history, credit score, income, and loan amount.
Frequently Asked Questions
What credit score do I need for a personal loan in Illinois?
What is the difference between secured and unsecured personal loans?
Can I use a personal loan for debt consolidation in Illinois?
Are credit unions or banks better for personal loans in Chicago, Illinois?
What is an origination fee on a personal loan?
Does checking personal loan rates hurt my credit score?
Can I pay off a personal loan early?
What are the best personal loan rates in Chicago, Illinois?
- Chicago Firefighters Credit Union: 5.25% (Signature and Cosigner Loan)
- American Broadcast Employees Federal Credit Union: 7.75% (Signature Loans)
- Justice Federal Credit Union: 7.99% (Personal Loan)
- ELCA Federal Credit Union: 7.99% (Personal Loans)
- South Side Community Federal Credit Union: 8.01% (Signature Loan)
Chicago, Illinois Rates & Resources
Personal Loan Calculators
