This Week’s Personal Loan Rates: June 24, 2025

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Forbes

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Personal loan rates dropped last week, making it a good time for qualified borrowers to secure a loan for projects or purchases.
For borrowers with a credit score of at least 720 who prequalified on Credible.com, the average interest rate on a three-year personal loan was 13.38% from June 16 to June 21, marking a 0.21 percentage-point decrease from the previous week.
The average rate on a five-year personal loan increased by 0.30 percentage points, rising from 18.88% to 19.18%.
Qualified borrowers may receive lower rates than average based on various factors like credit profile and lender offerings.
Rates are accurate as of June 21, 2025, and are based on the three-year fixed rate.
Personal loan rates are subject to frequent fluctuations, and individual lenders set their own rates.
Credit score significantly influences the interest rate offered by lenders, with higher scores typically securing lower rates.
It is advisable to compare rates, terms, and offerings from various lenders before selecting a personal loan.
Personal loans should be taken only when necessary, and borrowers should consider their financial needs before applying for one.
Lenders consider factors like loan term and credit history to determine personalized interest rates.
It's important to understand the influence of credit score on personal loan rates and potential long-term savings based on credit score.

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