Quick answer The Federal Reserve’s average APR on 24-month personal loans at commercial banks was 11.90% in its G.19 release of October 7, 2026 (August 2026 data, preliminary). That is up from 11.86% in Q2 2026 and 11.50% for 2025. This is a benchmark, not an offer: your rate depends on your credit, income, loan amount and term.
Federal Reserve benchmark (G.19)
| Measure and source | Average rate | As of |
|---|---|---|
| Personal loans: 24-month, commercial banks Federal Reserve G.19 | 11.90% Previous: 11.86% (May 2026) | August 2026 |
Benchmark averages, not offers; not affiliated with or endorsed by the Federal Reserve.
Source and method. Figures are from Board of Governors of the Federal Reserve System, Consumer Credit (G.19), www.federalreserve.gov/releases/g19/current/default.htm (release of October 7, 2026). We retrieved them on and copied them without adjustment. They are published averages, not offers: they are not Moneysilk's rates and not rates quoted by any lender or bank, and your rate will differ. Moneysilk is not affiliated with and is not endorsed by the Federal Reserve.
- Average 24-month personal loan rate at commercial banks
- The simple unweighted average of each reporting commercial bank's most common APR on 24-month personal loans, from a survey of the first calendar week of the middle month of the quarter. Covers commercial banks only; online lenders, credit unions and finance companies are not included. Not an offer; your rate depends on the lender, the loan terms and your credit profile.
Source: Federal Reserve G.19, Terms of Credit, commercial bank interest rates, 24-month personal loans, release of October 7, 2026, accessed October 19, 2026. APR as specified by Regulation Z; simple unweighted average of each bank’s most common rate in the first calendar week of the middle month of each quarter. Rates are surveyed in the middle month of each quarter; “Aug 2026” is the Q3 2026 survey.
| Period | Average APR, 24-month personal loan |
|---|---|
| 2023 | 11.87% |
| 2024 | 12.27% |
| 2025 | 11.50% |
| Q1 2026 | 11.36% |
| Q2 2026 (revised) | 11.86% |
| Aug 2026 / Q3 survey (preliminary) | 11.90% |
What this benchmark does and does not show
- It covers commercial banks’ most common rate. Finance companies, credit unions and online lenders are not included.
- It is an average, not a rate any lender has offered you.
- APR includes certain fees, such as origination fees; the interest rate alone does not (CFPB).
How we update this page
We check for new Fed data daily and update this page when the Fed publishes. G.19 is generally issued on the fifth business day of each month (Fed); the personal loan rate is a quarterly series. Review owner: Content & SEO editor, with Fact-Check sign-off. Next review: after the November 2026 G.19 release (fifth business day of November; confirm on the Fed’s release schedule).
How we research and compare products
General information, not financial advice.
Sources
- Consumer Credit - G.19 (release of October 7, 2026, August 2026 data), Board of Governors of the Federal Reserve System (accessed October 19, 2026)
- What is the difference between a loan interest rate and the APR?, Consumer Financial Protection Bureau (accessed October 19, 2026)
General information only; not financial, legal or tax advice. Moneysilk is not a lender and does not make credit decisions. Read our editorial standards and corrections policy.