 TITLE: What’s a Good Personal Loan Interest Rate? CONTENT: What Is the Average Interest Rate on a Personal Loan?\n-----------------------------------------------------\nThe average interest rate on a personal loan is 9.41%, according to Experian data from Q2 2019. Depending on the lender and the borrower's credit score and financial history, personal loan interest rates can range from 6% to 36%.\nA personal loan is a form of credit that allows consumers to finance large purchases, such as a home renovation, or consolidate high interest debt from other products like credit cards. In most cases, personal loans offer lower interest rates than credit cards, so they can be used to consolidate debts into one lower monthly payment.\nThe average personal loan interest rate is significantly lower than the average credit card interest rate, which was about 17% as of November 2019, according to the Federal Reserve. END