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Annual Interest Rate (APR) 7.50%
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💡 Carrying credit card debt at 20%+? A consolidation loan could halve your interest rate.
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How is my monthly payment calculated? +
Your payment uses standard amortization: P × [r(1+r)ⁿ] / [(1+r)ⁿ−1] where P = loan amount, r = monthly rate (APR÷12), n = total months. Each payment covers that month’s interest first — the remainder reduces your principal balance.
What’s a good interest rate for a personal loan in 2026? +
Good credit (670+) borrowers typically see 7–14% APR. Fair credit (580–669) usually 14–24%. Above 24% is high — at that point a consolidation loan or balance transfer card is worth exploring.
Should I use a personal loan to pay off credit card debt? +
If your loan APR is lower than your credit card APR (national average: 21.52%), yes — it almost always saves money. See our best consolidation loans of 2026 for current lender rates.
Estimates only. Assumes fixed APR with no new charges. Not financial advice — see disclaimer.
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