Michigan Personal Loan Rate Trends
Track current and weekly average personal loan rates in Michigan, view interactive rate trend charts, and compare local MI aprs against the national average.
Current Michigan Personal Loan Rate Trends
Personal Loan rates in Michigan rose 0.080 this week, pushing the Personal Loan average to 11.623%, up from 11.543% last week.
At 11.623%, Michigan’s average sits 0.912 above the current national average of 10.711%. This above-average spread may reflect local market conditions or regional lender competition in MI.
The Michigan personal loan rate averages on this page are calculated from 372 verified personal loan rate quotes collected across 126 banks and credit unions actively operating in Michigan. Our proprietary systems collect and verify rates daily — tracking what real licensed institutions are actually quoting to borrowers, not rate sheet estimates.
Michigan Personal Loan Rate Trends Chart
Daily average rates since March 15, 2026. State data shown where available; national average used as fallback. Hover to see exact rates.
Michigan personal loan rate averages compiled from 372 current rate quotes across 126 banks and credit unions operating in MI — updated daily.
As of May 1, 2026 • Data provided by MonitorBankRates.com
Historical Personal Loan Rate Trends in Michigan
Quarterly average personal loan rates at credit unions headquartered in Michigan, 1994–present. Different methodology from the daily chart above — this series reflects portfolio rates self-reported to NCUA each quarter.
Based on reporting credit unions in Michigan (latest quarter).
Source: MonitorBankRates.com analysis of NCUA Call Report data, 1994–present.
Quarterly weighted averages calculated from credit union rate filings, weighted by personal loan portfolio balance.
