Monthly payment · Total interest · APR breakdown · Compare terms
| Term | Monthly | Total Interest | Total Cost |
|---|
| Credit Score | Score Range | Typical APR | Rating |
|---|---|---|---|
| Exceptional | 800+ | 7% – 11% | Excellent |
| Very Good | 740–799 | 11% – 15% | Good |
| Good | 670–739 | 15% – 22% | Average |
| Fair | 580–669 | 22% – 30% | High |
| Poor | Below 580 | 30% – 36%+ | Very High |
Rates are indicative averages. Actual rates vary by lender, loan amount, term, and financial profile.
The interest rate is the base cost of borrowing the principal. APR (Annual Percentage Rate) includes the interest rate plus any fees (origination fee, prepayment penalties, etc.), making it the true annual cost of the loan. Always compare APRs — not just rates — when shopping lenders.
Most prime lenders require a credit score of 660+ for competitive rates. Excellent credit (750+) typically unlocks rates of 7–12% APR. Fair credit (580–659) may still qualify but expect 20–30% APR. Below 580, consider credit-builder loans or secured alternatives.
An origination fee is a one-time charge (typically 1–8% of the loan) deducted from your disbursement. On a $10,000 loan with a 5% origination fee, you receive $9,500 but repay the full $10,000 plus interest. This is why APR is higher than the stated interest rate — it factors in this fee.
Many online lenders (SoFi, LightStream, Marcus) have no prepayment penalty. Traditional banks and some credit unions may charge 1–3% of the remaining balance. Always read the loan agreement before signing. Early payoff saves significant interest — use the extra payment field above to see how much.
As of 2025, average personal loan APRs range from 11–28% depending on credit score and lender. Excellent credit: 8–13%. Good credit (690–719): 14–20%. Fair credit: 20–30%. Banks and credit unions often offer lower rates than online lenders, but have stricter approval requirements.