Loan Calculator
Enter your loan amount, term and interest rate to estimate your monthly payment.
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
Personal Loan Rates
Get personalized loan rates based on your zip code, credit score and income.
Debt Consolidation Loans
Pay off your debt faster by combining multiple debts into a single loan.
Bad Credit Loans
If your credit score needs work or you don’t have credit, you still have options.
Home Improvement Loans
Find a home improvement loan with the terms and interest rate you’re looking for.
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 ratesTop 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
Mar 24, 2019
Read More How to get a debt consolidation loan with bad credit
If you plan to get a personal loan to rid yourself of bills, take these steps to do it.
Debt consolidation: Is it right for you?
Mar 07, 2019
How to get a personal loan
Jan 25, 2019
What's new
-
Feb 16, 2018What is a TSP Loan?
TSP loans can help federal employees cover big expenses.
-
Jan 29, 2018How to buy a mobile home
Looking for an inexpensive housing option? Check out a mobile home.
-
Sep 20, 2017The best home improvement apps
Learn about the apps that can help make your DIY projects easier to handle.
-
Aug 25, 2017How do secured loans work?
This type of loan requires collateral, like a car or a home.
-
Aug 18, 2017Considering a personal loan? Learn the basics first
There’s a lot to know before you shop around for a personal loan.
-
Aug 08, 2017Getting a small loan doesn’t have to be a big hassle
Most banks don’t offer small loans, so be careful when you find a lender that does.
-
Aug 01, 20176 steps to make sure your loan gets approved
Follow these tips when applying for a loan to ease the process and gain approval.
-
Jul 06, 2017Sky high: The cost of a private jet
You’d have to be super-rich to own one. Chartering or renting is less expensive.
-
Jun 15, 2017Municipal Credit Union personal loans: 2018 comprehensive review
It’s hard to find cheaper personal loan, but you must be eligible for credit union membership to qualify.
-
Jun 12, 2017First Midwest Bank personal loans: 2018 comprehensive review
First Midwest Bank offers cheap personal loans, but you’ll need to meet some minimum requirements to qualify.