<ul><li>Rates on personal loans decreased last week, providing qualified borrowers an opportunity to secure loans at a more favorable interest rate.</li><li>From May 12 to May 17, the average fixed interest rate on a three-year personal loan for borrowers with a credit score of 720 or higher dropped to 14.20% from the previous week’s 15.27%.</li><li>The average rate on five-year personal loans also decreased from 20.37% to 19.70% during the same period.</li><li>Credit score heavily influences the interest rate offered by lenders, with higher credit scores typically resulting in lower rates. It is advisable to compare rates from different lenders before finalizing a personal loan agreement.</li></ul>

This Week’s Personal Loan Rates: May 20, 2025—Rates Inch Down Again

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