Compare personal loan offers with one short form

Personal-Loan.com may be paid by lenders in our network when you submit a request. We don’t make credit decisions, set rates or fees, or fund loans. Each lender sets its own APR, fees and terms, and those depend on your credit, your income and the law in your state.

This page shows what a typical loan costs, what to check in an offer, who decides your rate and which cheaper options to look at first. For the basics, read how personal loans work.

What does a $5,000 personal loan cost?

A $5,000 personal loan over 36 months costs about $979 to $3,244 in interest at 12% to 35.99% APR. The table below runs the same loan at three APRs so you can see how much the rate changes the monthly payment and the total you pay back. The annual percentage rate (APR) is the yearly cost of the loan, including interest and certain fees.

Example only: $5,000 borrowed, repaid in 36 fixed monthly payments at the APR shown, no fees. Totals are rounded to the nearest dollar and the final payment may differ by a few cents. These are not offers. Your APR, fees and terms are set by the lender.

For a benchmark, the Federal Reserve’s G.19 consumer credit release (October 7, 2026) put the average rate on a 24-month personal loan at commercial banks at 11.90% for August 2026 (preliminary). Many online and non-bank lenders charge more than that. LendingTree’s Q3 2026 offer data, for loans of $5,000 to $54,999 over 36 to 83 months, shows average APRs from 15.55% for scores of 800 and up to 30.18% for scores under 580. To run your own numbers, use the personal loan calculator, and see what a bad credit score means for your rate.

What should you compare in a personal loan offer?

Compare each offer’s APR and total cost, not only the monthly payment. Federal Truth in Lending rules require the lender to show the APR, finance charge, amount financed, payment schedule and total of payments before you sign. Read these lines closely:

• APR and interest rate are not the same thing. The interest rate is the charge for borrowing the money; the APR adds certain fees to it, which makes the APR the better number for comparing offers.
• An origination fee is a one-time charge that many lenders take out of the loan before you get the money. On a $5,000 loan with a 5% fee, $4,750 reaches your account. If the interest rate is 24% and you repay in 36 monthly payments of $196.16, the APR comes to about 27.9% (example only).
• A longer term lowers the payment and raises the total cost. At 24% APR, $5,000 over 60 months is $143.84 a month and about $3,630 in interest, compared with $196.16 a month and about $2,062 over 36 months (example only).
• A prepayment penalty is a fee for paying the loan off early. Some lenders charge one and others don’t, and the loan disclosures must say whether it applies.

Our personal loan terms glossary explains each of these in more detail.

Who sets the rate you’re offered?

The lender sets your rate, based on your credit and income, within limits set by state law. The Consumer Financial Protection Bureau (CFPB) says lenders weigh your credit history, income, existing debts, the size and length of the loan, and the rates your state allows. Personal-Loan.com has no say in any of these.

State law sets the outer limit for many lenders. For a $2,000, two-year installment loan, 43 states and DC cap the APR, at a median of 34%, according to the National Consumer Law Center’s December 2025 report. Caps differ by loan size and lender type, and a bank may be allowed to charge the rate its home state permits, even to borrowers in other states. Our guide to personal loan rate caps by state lists the limits.

If you’re an active-duty servicemember or a covered dependent, the Military Lending Act caps the Military APR, which counts most fees and add-on products, at 36% (32 CFR 232.4(b)).

Which cheaper options should you check first?

A credit union loan, a 0% balance transfer or a payment plan may cost less than a personal loan.

• Credit union loans are often cheaper, because federal credit unions are held to an 18% interest rate ceiling on most loans. The NCUA Board extended that ceiling on February 6, 2026, through September 10, 2027. You usually have to become a member first.
• For credit card debt, a 0% balance transfer card can beat a loan if you clear the balance before the promotion ends; whatever is left after that is charged the card’s regular rate. Experian (September 2026) puts typical transfer fees at 3% to 5% of the amount moved.
• Hospitals, utilities and other billers may agree to a payment plan that splits a bill into smaller payments. Ask before you borrow to pay it.
• Nonprofit credit counseling is another route. The CFPB (reviewed October 2026) says credit counseling organizations are usually nonprofits that offer free or low-cost advice and can set up a debt management plan.

If none of these fits and you do take a loan, ask for only the amount you need.

Updated November 2026. This page is general information, not financial or legal advice.