Personal Loan Statistics 2026: 18 Facts From the Fed, New York Fed and NCUA
Commercial banks charged an average 11.90% on 24-month personal loans in August 2026, per the Federal Reserve's G.19, while the New York Fed counted $568 billion in consumer finance and retail balances in 2026:Q2, with 9.61% seriously delinquent.
Personal loans have become a mainstream way to consolidate credit card balances and pay for big expenses, but no single government table counts them on their own. The best public read comes from three primary sources: the Federal Reserve’s consumer credit release for rates and lender mix, the New York Fed’s credit-report data for balances and delinquency, and the NCUA for credit unions. Here are 18 statistics from those sources, plus what the Fed’s household survey says about who borrows and why.
Data as of October 18, 2026. Rates and consumer credit totals come from the Federal Reserve’s G.19 Consumer Credit release published October 7, 2026 (August 2026 data). Balances and delinquency come from the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit for 2026:Q2, its data workbook and its August 11, 2026 release. Credit union figures come from the NCUA’s Quarterly Credit Union Data Summary for 2026 Q2. Borrowing behavior comes from the Federal Reserve’s Economic Well-Being of U.S. Households in 2025 (SHED, May 2026). Where we divide or subtract published figures, we say so. This page is general information, not financial advice. Some links on Money 8020 are affiliate or partner links; see our advertiser and affiliate disclosure.
Key takeaways
- Average rate: 11.90% on 24-month personal loans at commercial banks in August 2026, versus 22.36% on credit card accounts assessed interest.
- Balances: the New York Fed’s Other category (consumer finance loans, including personal loans, plus retail cards) was $568 billion in 2026:Q2.
- Serious delinquency: 9.61% of Other balances were 90+ days delinquent, flat from a year earlier.
- Finance companies matter: they held $681.9 billion of nonrevolving consumer credit in August 2026, per the G.19.
- Hardship borrowing: among adults who struggled to pay bills, 6% took out a loan such as a payday or personal loan, per the Fed’s SHED survey.
Personal loan statistics at a glance
| Measure | Value | Source / as-of |
|---|---|---|
| 24-month personal loan rate, commercial banks | 11.90% | Fed G.19, August 2026 survey |
| Annual average personal loan rate, 2025 | 11.50% | Fed G.19 |
| Credit card rate, accounts assessed interest | 22.36% | Fed G.19, August 2026 |
| Consumer finance and retail (Other) balances | $568 billion | NY Fed HHDC, 2026:Q2 |
| Other balances 90+ days delinquent | 9.61% | NY Fed HHDC, 2026:Q2 |
| Total U.S. consumer credit (seasonally adjusted) | $5,196.8 billion | Fed G.19, August 2026 |
| Nonrevolving consumer credit | $3,844.4 billion | Fed G.19, August 2026 |
| Credit union “other loans” | $146.4 billion | NCUA, 2026 Q2 |
| Adults who used payday, pawn, title or refund loans | 7% | Fed SHED, 2025 |
What personal loans cost
1. Banks charged an average 11.90% on 24-month personal loans in August 2026
The Federal Reserve’s G.19 release puts the average rate on 24-month personal loans at commercial banks at 11.90% for its August 2026 survey. The Fed measures this as each bank’s most common rate in the first week of the middle month of each quarter, so it is a typical quoted rate, not the rate every borrower gets.
2. That is up 0.76 points from a year earlier
The same series was 11.14% in August 2025, so the August 2026 reading is 0.76 percentage points higher (our subtraction). It was 11.86% in May 2026 and 11.36% in February 2026.
3. The annual average fell to 11.50% in 2025
The G.19’s annual personal loan rate was 11.50% in 2025, down from 12.27% in 2024, the highest year in the recent run. Rates were far lower in 2021 at 9.38%.
4. Personal loans cost about half what credit cards do
In August 2026, the G.19 put the rate on credit card accounts assessed interest at 22.36%, and 21.19% across all card accounts. The 24-month personal loan rate of 11.90% is about 10.5 percentage points below the assessed-interest card rate (our subtraction).
5. Personal loans also cost more than a new car loan
The G.19’s 60-month new car loan rate at commercial banks was 7.54% in August 2026, about 4.4 points below the personal loan rate (our subtraction). Secured loans are usually cheaper because the lender can take the collateral.
How much Americans owe
6. Consumer finance and retail balances reached $568 billion
The New York Fed groups consumer finance loans (sales financing and personal loans) with retail cards in an Other category. It was $568 billion in 2026:Q2, up $6 billion from $562 billion in Q1.
7. Other balances are up 5.2% in a year
Other balances were $540 billion in 2026:Q2 a year earlier, so they grew by $28 billion, or about 5.2% (our arithmetic). They were $432 billion in 2019:Q4, before the pandemic, an increase of about 31% since then (our arithmetic).
8. Other debt is about 3% of household debt
Total household debt was $18.771 trillion in 2026:Q2. The Other category was about 3.0% of that (our division of 568 / 18,771), far smaller than mortgages but larger in dollars than many people expect.
9. Borrowers in their 40s and 50s hold the most
By age group, Other balances in 2026:Q2 were highest for borrowers aged 40 to 49 ($134.7 billion) and 50 to 59 ($132.1 billion). Borrowers under 30 held $31.8 billion.
10. Nonrevolving consumer credit was $3.84 trillion
The G.19 counts personal loans inside nonrevolving consumer credit, alongside auto and student loans. Nonrevolving credit was $3,844.4 billion (seasonally adjusted) in August 2026, out of $5,196.8 billion in total consumer credit. Revolving credit, mostly credit cards, was $1,352.4 billion.
11. Nonrevolving credit grew while card balances shrank
In August 2026, nonrevolving credit grew at a 4.1% seasonally adjusted annual rate while revolving credit fell at a 4.2% rate, per the G.19. Total consumer credit grew at 1.9%.
Who lends
12. Finance companies held $681.9 billion of nonrevolving credit
By holder, the G.19 (not seasonally adjusted, August 2026) shows nonrevolving consumer credit of $888.9 billion at depository institutions, $681.9 billion at finance companies, $645.3 billion at credit unions and $1,621.5 billion held by the federal government, mostly student loans.
| Holder (nonrevolving, August 2026) | Balance |
|---|---|
| Federal government | $1,621.5 billion |
| Depository institutions | $888.9 billion |
| Finance companies | $681.9 billion |
| Credit unions | $645.3 billion |
Source: Federal Reserve G.19, not seasonally adjusted. Nonrevolving credit includes auto, student and personal loans, so these are not personal-loan-only totals.
13. Credit unions held $146.4 billion in “other loans”
The NCUA’s 2026 Q2 data summary shows $146.4 billion in other loans at federally insured credit unions, down 0.6% from $147.3 billion a year earlier. This is a catch-all category that includes unsecured personal loans among other loan types, so treat it as context, not a personal loan total.
14. Credit union loan quality held steady
Total credit union loans were $1,763.5 billion in 2026 Q2, up 4.9% from a year earlier, per the NCUA. The delinquency rate across all credit union loans was 0.96%, and the net charge-off rate was 0.78%.
Delinquency and stress
15. 9.61% of Other balances were seriously delinquent
In 2026:Q2, 9.61% of Other balances were 90 or more days delinquent, the same as in 2026:Q2 a year earlier, per the New York Fed. That is below credit cards (12.92%) but well above auto loans (5.49%).
16. New serious delinquencies eased slightly
The annualized share of Other balances moving into serious (90+ day) delinquency was 5.19% in 2026:Q2, down from 5.42% a year earlier. The share moving into early (30+ day) delinquency was 7.46%.
Who borrows and why
17. A third of credit applicants were turned down or approved for less
In the Fed’s SHED survey for 2025, 33% of adults applied for some type of credit, and about one-third of applicants were denied or approved for less than they requested at least once. Separately, 7% of adults used a payday, pawn, auto title or tax refund anticipation loan, rising to 13% among adults with family income under $25,000.
18. Some adults turn to loans to pay the bills
28% of adults said they struggled to pay their bills in the month before the SHED survey. Among them, 6% took out a loan such as a payday or personal loan, 23% used a credit card they paid off over time and 22% borrowed from friends or family.
How to put these numbers to work
- Use the Fed’s 11.90% as a benchmark, not a promise. Loan rates are variable across lenders and change over time. If you are offered a rate well above it, compare at least two or three lenders before you accept.
- A personal loan can make sense for consolidating card debt when its APR, including any origination fee, is well below your card rate. See our average credit card debt data and personal loan options.
- Your credit score drives your rate. See credit score statistics 2026 for how scores are distributed, and how credit scores work.
- If you also carry student debt, see student loan debt statistics 2026 for the bigger picture.
- Payday and title loans usually cost far more than a bank or credit union personal loan. The CFPB’s consumer tools explain the risks.
- None of these figures is a recommendation to borrow.
Frequently asked questions
What is the average personal loan interest rate?
The Federal Reserve's G.19 consumer credit release (October 7, 2026) put the average rate on 24-month personal loans at commercial banks at 11.90% in its August 2026 survey, up from 11.86% in the May 2026 survey and 11.14% in August 2025. The annual average was 11.50% in 2025. Your own rate depends on your credit, income and lender.
How much personal loan debt do Americans have?
No federal source publishes a single personal-loan-only total. The closest measure is the New York Fed's Other category, which covers consumer finance loans (sales financing and personal loans) plus retail cards. It was $568 billion in 2026:Q2, up from $562 billion in Q1 and $540 billion a year earlier.
How many personal loans are delinquent?
In the New York Fed's 2026:Q2 report, 9.61% of Other balances (consumer finance loans and retail cards) were 90 or more days delinquent, the same share as a year earlier. That compares with 12.92% for credit cards and 5.49% for auto loans.
Are personal loans cheaper than credit cards?
On average, yes. The Federal Reserve's G.19 shows 11.90% on 24-month bank personal loans in August 2026 versus 22.36% on credit card accounts assessed interest. That gap of about 10.5 percentage points (our subtraction) is why people use personal loans to consolidate card balances, though fees and your credit profile matter.
How many people use payday or other alternative loans?
In the Federal Reserve's SHED survey for 2025, 7% of adults said they used a payday loan, pawn shop loan, auto title loan or tax refund anticipation loan in the prior year. Use was 13% among adults with family income under $25,000 and 2% among those earning $100,000 or more.
Is this financial advice?
No. These figures are general information from the Federal Reserve, the Federal Reserve Bank of New York and the NCUA. They are not a recommendation to borrow. Compare the APR, fees and total cost of any loan before you sign.