🇺🇸 US ~11.5% avg🇬🇧 UK ~8.9% avg🇨🇦 Canada ~9.5%🇩🇪 Germany ~6.5%
Personal Loan Calculator
Calculate monthly payments and total interest for any unsecured personal loan. US personal loan rates are 2–5% higher than UK/European rates for equivalent borrowers — understand why before you borrow.
💡 US avg personal loan APR (2024): ~11.5%. Range: 6–36% depending on credit.
Quick Answer
A $15,000 loan at 11.5% APR over 5 years: monthly payment = $330, total interest = $4,798. At the UK average (8.9%): monthly = $311, interest = $3,671. The same loan costs $1,127 more in the US than the UK.
Personal Loan Rate Comparison (2024)
| Country | Good Credit APR | Fair Credit APR | Max Term | Regulation |
|---|---|---|---|---|
| 🇺🇸 United States | 7–13% | 14–25% | 7 years | State regulated; TILA disclosure |
| 🇬🇧 United Kingdom | 5–10% | 11–20% | 7 years | Consumer Credit Act / FCA |
| 🇨🇦 Canada | 7–12% | 13–22% | 5 years | Max 60% criminal rate |
| 🇦🇺 Australia | 6–11% | 12–20% | 7 years | NCCP Act; responsible lending |
| 🇩🇪 Germany | 4–8% | 9–15% | 7 years | EU Consumer Credit Directive |