Original research
The headline APR is not the average rate borrowers get
Quick answer
The lowest rate in an ad is not the rate most people get. It is not a rate promised to you. Use your own offer to plan the payment. An average rate on past loans gives context, but it cannot tell you what you will pay.
This 17-program sample is not the whole market and cannot predict your offer. CC BY 4.0 covers Rung-owned work, with third-party material excluded. This working report is public. Publisher review and third-party source clearance remain pending; no completed reviewer approval is claimed.
SoFi shows how far apart the two rates can be
SoFi reported a 15.89% average APR for 7-year personal loans with no fee, funded from March 15, 2025 through March 15, 2026. For the same term and fee option, we found an advertised minimum of 11.90% on September 5, 2026.
The average describes loans that were made. The minimum describes a possible price, subject to the lender’s terms and discounts. They answer different questions.
The dates differ. This is context from one loan type, not proof that those borrowers paid 3.99 points more than an offer they could have taken. It is not a typical gap across lenders.
- Social Finance, LLC and SoFi Bank, N.A.: Personal Loans. official product page; checked 2026-09-05. Personal-loan disclosure; APR, fee and amount ranges, creditor, and seven-year funded APR example
- Social Finance, LLC and SoFi Bank, N.A.: Compare Rates and Terms. official product page; checked 2026-09-05. No-origination-fee payment examples by term, including seven-year APR range
A starting rate is a poor budget input
If you plan around the lowest rate in an ad, your payment may look easier to afford than the offer you receive. A funded average gives more context, but it still does not tell you your rate.
Scroll across to see all columns.
| Rate | What it tells you | How to use it |
|---|---|---|
| Advertised minimum | Where a stated rate range starts | Use it to explore. Do not treat it as your price. |
| Funded average | The average for a defined group of loans | Check who and when it covers. Keep its limits with the number. |
| Your offered APR | The yearly cost disclosed for your offer, including certain fees | Compare it with the cash received, payment, term, and total repayment. |
A quote can still change before the loan is final. Check the final terms before you agree.
Most public records leave the price question open
We checked 22 records on loans that were made. Only 1 could support a limited comparison with a posted rate. The other 21 did not give an APR we could compare, or covered different loans and terms.
This leaves a gap when you shop. These records do not tell us a typical rate across the 17 programs. A missing rate does not mean a lender is cheap or costly.
See the full comparison and all 22 records. The study is a selected sample, not a survey of the whole market.
Compare the offer that can pay for your purchase
- Check the cash you receive after fees. It must cover what you need.
- Compare offers for the same cash amount and payoff time.
- Check the full amount paid back, then the monthly bill.
If you may use a loan or card, test both in the large-purchase calculator. Its credit-group rates come from dated sources. They are examples, not your likely rate.
If you need the ad’s lowest rate to make the payment fit, wait. Get an offer first. Then check the cost before you buy.
How to check or cite this finding
Source snapshot: September 5, 2026. Rung subtracts 11.90% from 15.89% to get 3.99 percentage points. The source does not give the number of loans in that funded group. We do not estimate a national average, approval odds, or your rate.
Download the funded-loan records or read the citation guidance. Publisher review is pending before final release. No independent expert review is claimed.
Correction, September 9, 2026: the companion finding page had shortened the funded period to one month. The source record covers March 15, 2025–March 15, 2026. The APRs and subtraction are unchanged. The downloadable report has the same date correction.
Check the next part of your offer
Compare the cash and total cost in your own disclosure.
Use the research to ask better questions. Check the final terms before you sign.