Short answer: Personal-Loan.com is a free referral service, not a lender. You fill in one short form and we pass your request to lenders in our network, who may make you an offer. A personal loan is a fixed sum you borrow and repay in equal monthly payments over a set term, usually without putting up collateral.
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. If you’re new to borrowing, start with 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 annual percentage rate (APR) is the yearly cost of the loan, including interest and certain fees. The table runs the same loan at three APRs, so you can see how much the rate moves the monthly payment and the total you pay back.
| APR (example only) | Monthly payment | Total interest | Total repaid |
|---|---|---|---|
| 12% | $166.07 | $979 | $5,979 |
| 24% | $196.16 | $2,062 | $7,062 |
| 35.99% | $228.99 | $3,244 | $8,244 |
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 shows average APRs from 15.55% for scores of 800 and up to 30.18% for scores under 580, for loans of $5,000 to $54,999 over 36 to 83 months. To run your own numbers, use the personal loan calculator.
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 it 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. Over 36 months it is $196.16 a month and about $2,062 (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. 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.
What the law says: 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)).
How much can you borrow through Personal-Loan.com?
You can request $100 to $35,000 through the Personal-Loan.com form. A lender that makes an offer decides the amount based on your credit, income and state law, and it may be less than you asked for.
Personal-Loan.com is not available in all states. Which lenders can work with you, and what they can offer, depends on state law where you live.
Can you apply for a personal loan with bad credit?
Yes, you can submit a request if your credit is fair or poor, but approval is not guaranteed. Experian (September 2026) says many lenders accept scores from about 580, and lower scores usually come with higher APRs. See what a bad credit score means for your rate.
Submitting a request may affect your credit, because lenders may check it with one or more credit bureaus. Some lenders use a soft inquiry, which doesn’t affect your score, and some use a hard inquiry, which can. Check each lender’s terms before you go ahead.
Which cheaper options should you check first?
Credit union loans, 0% balance transfers and payment plans may all cost less than a personal loan.
- A credit union loan is 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.
Personal loan FAQs
Does it cost anything to use Personal-Loan.com?
No, submitting a request is free; lenders in our network may pay us when you submit it. Any loan you accept has its own interest and fees, shown in the lender’s offer. The FTC (August 2026) warns that it’s illegal for telemarketers to promise you a loan and ask you to pay for it up front.
How fast can I get the money?
If you’re approved, some lenders may fund as soon as the next business day. Timing depends on the lender and your bank, and it isn’t guaranteed.
Personal loans at a glance
| Item | Figure | Source or basis |
|---|---|---|
| Amount you can request | $100 to $35,000 | Personal-Loan.com form |
| $5,000 over 36 months at 12% APR | $166.07 a month, about $979 interest | Example only |
| $5,000 over 36 months at 24% APR | $196.16 a month, about $2,062 interest | Example only |
| $5,000 over 36 months at 35.99% APR | $228.99 a month, about $3,244 interest | Example only |
| $5,000 over 60 months at 24% APR | $143.84 a month, about $3,630 interest | Example only |
| 5% origination fee on $5,000 (24% rate, 36 months) | $4,750 reaches your account; APR about 27.9% | Example only |
| Average 24-month personal loan rate at commercial banks | 11.90% (August 2026, preliminary) | Federal Reserve G.19, October 7, 2026 |
| Average APR by credit score | 15.55% (800 and up) to 30.18% (under 580) | LendingTree Q3 2026 offer data ($5,000 to $54,999, 36 to 83 months) |
| State APR caps on a $2,000, two-year loan | 43 states and DC; median 34% | National Consumer Law Center, December 2025 |
| Military APR cap for active-duty servicemembers and covered dependents | 36% | Military Lending Act, 32 CFR 232.4(b) |
| Federal credit union interest rate ceiling | 18% on most loans, through September 10, 2027 | NCUA Board, February 6, 2026 |
| Typical balance transfer fee | 3% to 5% of the amount moved | Experian, September 2026 |
| Cost to submit a request | Free | Personal-Loan.com |
Example only: the payment rows assume $5,000 repaid in fixed monthly payments at the rate shown, with no fees except where a fee is listed. Totals are rounded. These are not offers. Your APR, fees and terms are set by the lender.
Updated November 2026. This page is general information, not financial or legal advice.