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
Jun 04, 2019
Read More The pros and cons of personal loans
Personal loans are a quick source of cash, but be careful how you use them.
7 ways to spot personal loan scams
May 17, 2019
How to get a personal line of credit (PLOC)
May 15, 2019
How to get a debt consolidation loan with bad credit
Mar 24, 2019
What's new
-
Aug 03, 20165 personal loan mistakes that could cost you money
Here’s how to keep from falling into personal loan traps that can cost you money.
-
Jul 26, 2016Loan gone bad? You probably can’t sue
Like with other financial products, personal loan borrower agreements contain language requiring you to waive your right to settle a dispute in court before a jury.
-
Jul 25, 2016Clinton: Go to college, let US pay for it
By 2021, families with income up to $125,000 will pay no tuition at in-state 4-year public colleges and universities under Clinton’s plan.
-
Jul 18, 2016Student loans a back burner issue for GOP
Presumptive Republican presidential nominee Donald Trump has been hard to pin down on student loans.
-
Jun 30, 2016 -
Jun 22, 2016You may not be able to get a co-borrower for your personal loan
Some online lenders may not allow joint applicants on personal loans. Here’s why.
-
Jun 20, 2016A nude selfie as loan collateral?
In financial transactions that more closely resemble a hostage-taking, desperate college women in China are reportedly turning over naked pictures as collateral for their loans.
-
Jun 14, 2016Personal loan vs. store financing if you have limited credit
Weigh these factors when choosing between a personal loan and store financing for a big purchase.
-
Jun 09, 2016You can improve your credit score with a personal loan — but you shouldn’t
A personal loan can help, but there are cheaper ways to bolster your credit score.
-
Jun 08, 2016Lending Club increases personal loan rates
The embattled personal loan outfit raised interest rates Tuesday for nearly all borrowers in an effort to “boost the attractiveness of the asset to investors,” the company said in a filing with the [...]