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

Personal Loans 101

What's a personal loan?

A personal loan is a fixed-amount loan that’s distributed as a lump sum. Most people take out personal loans to make a large purchase, pay off medical bills or consolidate debt. Unlike a secured loan to buy a home or car, personal loans are “unsecured.” Unsecured loans are offered with no collateral attached, giving you more flexibility in how you spend the money.

What should I know about interest rates?

Interest rates for personal loans are largely determined by your credit score. Your annual income and the amount you wish to borrow are important, too.

It’s a good idea to compare rates from different lenders to find the best deal. If you’re not seeing the rate you want, try lowering the amount you want to borrow or improving your credit score.

Compare the latest rates

Top uses for a personal loan

  • Consolidate debt
  • Pay off credit cards
  • Home improvements

Read more about the top 9 reasons for personal loans.

How do I get a personal loan?

You can apply for a personal loan through a bank, credit union or finance company, including online marketplace lenders.

It helps to have a strong credit score before you apply. If your credit needs work, you could still be approved for a personal loan. But with moderate to bad credit, you may end up paying a higher interest rate.

Once you’ve found a lender and interest rate that look right for you, calculate your monthly payments so you can work your loan payment into your overall budget. Simply enter your loan amount, term and interest rate into our Personal Loan Calculator.

Compare personal loan rates at Bankrate today.

Editor's Picks

What's new

  • How much does it cost to install or replace plumbing?

    Your house needs new plumbing. You have a large project on your hands, whether it’s due to toxic lead pipes, problem-prone polybutylene pipes or a separate issue entirely, and you’ll want to know the [...]

    Jan 21, 2020
  • How much do new cabinets cost?

    New cabinets are an easy way to give your home an instant facelift and improve a home’s value. Unlike other home renovations, new cabinets are a quick, easy, and affordable way to instantly boost property [...]

    Jan 21, 2020
  • When is the best time to buy appliances

    Planning ahead can save tons of money and lots of headaches when a beloved appliance finally taps out. By taking a more proactive approach, homeowners can take advantage of special sales to buy the very [...]

    Jan 21, 2020
  • How much do granite countertops cost?

    Over the past two decades, few kitchen features have become more in-demand than granite countertops. Introduced in the 1980s as an alternative to marble, granite countertops have become easier to cut and [...]

    Jan 20, 2020
  • How much does it cost to install new tiling?

    Like any home improvement project, the cost of tile installation is crucial to consider before you get started. Here are the four primary factors that impact the total cost, some smart ways to save and [...]

    Jan 20, 2020
  • How much does it cost to paint a house?

    At some point, it will be time to paint your home. Perhaps the exterior of your home is looking weathered or you need a new nursery for an upcoming bundle of joy. Maybe you are finally getting the home [...]

    Jan 02, 2020