Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan
TERMCBPER24NS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.57
Year-over-Year Change
32.53%
Date Range
2/1/1972 - 5/1/2025
Summary
This economic indicator tracks the average interest rate charged by commercial banks for personal loans with a 24-month term. It provides insight into consumer borrowing costs and the overall lending environment for personal credit.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The finance rate represents the cost of borrowing for consumers seeking personal loans from commercial banks, reflecting current market conditions and monetary policy influences. Economists use this metric to assess credit accessibility, consumer financial health, and potential economic trends.
Methodology
Data is collected through a survey of commercial banks, tracking the average interest rates applied to personal loans with a 24-month duration.
Historical Context
This trend is crucial for understanding consumer lending conditions, monetary policy effectiveness, and potential economic stimulus or contraction.
Key Facts
- Reflects current consumer lending conditions
- Influenced by Federal Reserve monetary policy
- Provides insight into overall economic health
FAQs
Q: How do personal loan rates impact consumers?
A: Higher rates increase borrowing costs, potentially reducing consumer spending and loan accessibility. Lower rates can stimulate borrowing and economic activity.
Q: What factors influence these loan rates?
A: Key factors include Federal Reserve policy, inflation, economic growth, and individual borrower credit profiles.
Q: How often is this data updated?
A: The Federal Reserve typically updates this data monthly, providing a current snapshot of lending conditions.
Q: Why do economists track this metric?
A: It serves as an important indicator of credit market health, consumer financial conditions, and potential economic trends.
Q: Are these rates the same for all borrowers?
A: Actual rates vary based on individual credit scores, income, and specific bank lending policies.
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Citation
U.S. Federal Reserve, Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan [TERMCBPER24NS], retrieved from FRED.
Last Checked: 8/1/2025