Best Personal Loans of October 2026
Compare personal loan rates from trusted lenders in minutes.
Updated October 19, 2026 ·
How we rate
Our scores weigh pricing transparency, product features, eligibility, and customer experience — alongside our commercial relationships with partners.
Read our rating methodologyWhat is a personal loan?
A personal loan is a fixed-amount installment loan you repay in equal monthly payments over a set term, usually two to seven years. Most personal loans are unsecured, meaning you don't need to pledge collateral like a car or home.
How to compare offers
Look beyond the monthly payment. Compare the APR (which includes fees), the total repayment amount, origination fees, prepayment penalties, and funding speed. A lower monthly payment over a longer term often costs more overall.
Pros and cons
Personal loans can consolidate high-interest debt into one predictable payment, often at a lower rate than credit cards. On the downside, origination fees can add 1–8% to the cost, and borrowers with weaker credit may face high APRs.
How to qualify
Lenders typically review your credit score, income, debt-to-income ratio, and employment history. Checking rates with a soft credit pull won't affect your score, so you can safely compare multiple lenders before applying.
Do the math
Personal loan payment calculator
Monthly payment
$332.14
Total repayment
$11,957
Total interest
$1,957
Frequently asked questions
Representative example: a $10,000 loan with a 36-month term at 12.99% APR would have 36 monthly payments of $337 and a total repayment of $12,132. Rates range from 6.99% to 35.99% APR depending on creditworthiness, loan amount, and term. Your actual rate is set by the lender and is not guaranteed.