Personal Loans

Personal loans can help you consolidate debt, renovate your home, pay for college and more. Calculate monthly payments and see the latest personal loan rates to find the option that’s right for you.

Personal Loan Resources

Loan Calculator

Enter your loan amount, term and interest rate to estimate your monthly payment.

Loan Calculator

Bad Credit Loans

If your credit score needs work or you don’t have credit, you still have options.

Bad Credit Loans

Student Loans

Find a private student loan with the terms and interest rate you’re looking for.

Student Loans

Personal Loans 101

What is a personal loan?

A personal loan is a fixed amount that’s distributed in a lump sum, usually to take care of a one-time payment. Getting an “unsecured” personal loan, with no collateral attached provides some flexibility toward how you use the funds you’re given – unlike a traditional mortgage or auto loan, used for specific purposes.

Read Bankrate’s complete guide on personal loans for everything you need to know.

Personal loan interest rates

Interest rates for personal loans are determined largely by your credit score. Your annual income and the amount you wish to borrow play a role as well. But the rates between lenders will ultimately vary from one to the next.

Compare the latest rates

How do I get a personal loan?

Similar to a secured loan, obtaining an unsecured personal loan can be done through a bank, credit union, or finance company. But while having a strong credit score can help, you could still be approved for a personal loan even with moderate to bad credit.

Once you have a handle on what your expenses will be, you can begin to put a payment schedule together. Bankrate’s Personal Loan Calculator will help you determine your monthly payments by entering your loan amount, term, and interest rate.

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