Average Loan and Credit Card Interest Rates (September 2026)
The average quoted rate on a £5,000 personal loan is 11.52% and on credit card lending 24.71%, according to the Bank of England.
| Product | September 2026 | A year earlier | Change |
|---|---|---|---|
| Personal loan of £5,000 | 11.52% | 10.74% | +0.78 points |
| Credit card lending | 24.71% | 24.65% | +0.06 points |
What a loan costs at the average rate
| Loan | Monthly (5 years) | Total interest |
|---|---|---|
| £2,000 | £44.01 | £640 |
| £5,000 | £110.01 | £1,601 |
| £10,000 | £220.03 | £3,202 |
| £20,000 | £440.05 | £6,403 |
Compare with the loan repayment calculator, and see the credit card payoff calculator to see how long a card balance takes to clear.
About these figures
These are averages of quoted rates published by the Bank of England and are a market guide, not an offer. The rate you are offered depends on your credit record, and lenders only have to offer the advertised representative APR to at least 51% of successful applicants.
Source: Bank of England Statistical Interactive Database, quoted household interest rates. Figures fetched 12 October 2026.
Frequently asked questions
What is the average interest rate on a personal loan?
The Bank of England reports an average quoted rate of 11.52% on a £5,000 personal loan in September 2026. Your own rate depends on your credit record and the lender.
What is the average credit card interest rate?
The average rate on credit card lending is about 24.71%, which is why paying a balance off in full each month matters.
How much does a £5,000 loan cost per month?
Over five years at 11.52%, a £5,000 loan costs about £110.01 a month, with £1,601 of interest in total.
Figures are for the 2026/27 tax year from official sources and are estimates for guidance only, not financial or legal advice. Printed from ukanswers.co.uk.