Fast Loan Express
Updated April 2026

Best Personal Loans in Massachusetts (2026)

Avg APR
11.45%
Max APR
23%
Avg Loan Amount
$13,500
Avg Credit Score
720
Monthly Payment
$332
$10k / 36 mo
YoY Trend
0.58%

Massachusetts Lending Regulations

Regulatory body: Massachusetts Division of Banks

Key regulation: 23% APR cap for small loans; 20% for larger amounts

Expected Rates by Credit Score in Massachusetts

What borrowers in Massachusetts can expect based on their credit tier — based on a $10,000 / 36-month loan.

Excellent (740+)
6.65%
Massachusetts average
Good (670–739)
9.90%
Massachusetts average
Fair (580–669)
15.20%
Massachusetts average
Poor (<580)
23.00%
Massachusetts average

Borrowers with excellent credit in Massachusetts pay an average of 16.35% less than those with poor credit. Improving your score before applying can save thousands over the life of your loan.

How Massachusetts Compares

National Rank
#2
of 50 states (lowest APR)
MA Avg APR
11.45%
National Avg APR
13.38%
Active Lenders
32

Massachusetts ranks #2 nationally with an average APR 1.93% below the national average — making it one of the more affordable states for personal loans. See the full state-by-state data study →

Top Lenders Available in Massachusetts

SoFi
4.9
APR: 8.99%-29.99% · $5,000-$100,000
Check Rate
Upgrade
4.7
APR: 9.99%-35.99% · $1,000-$50,000
Check Rate
LightStream
4.9
APR: 6.49%-25.99% · $5,000-$100,000
Check Rate
LendingClub
4.5
APR: 9.57%-35.99% · $1,000-$40,000
Check Rate
Best Egg
4.5
APR: 5.99%-35.99% · $2,000-$50,000
Check Rate
Upstart
4.3
APR: 7.80%-35.99% · $1,000-$50,000
Check Rate
Discover
4.6
APR: 7.99%-24.99% · $2,500-$40,000
Check Rate
Avant
4.2
APR: 9.95%-35.99% · $2,000-$35,000
Check Rate
PenFed Credit Union
4.6
APR: 7.74%-17.99% · $600-$50,000
Check Rate
Universal Credit
4.0
APR: 11.69%-35.99% · $1,000-$50,000
Check Rate

Browse by loan type

Best Personal LoansBad Credit LoansDebt ConsolidationEmergency LoansSame Day LoansLow Interest Loans

Personal Loans in Massachusetts: FAQ

The maximum APR for personal loans in Massachusetts is 23%. The actual average APR borrowers pay is 11.45%, well below the legal cap. 23% APR cap for small loans; 20% for larger amounts. Always check the specific terms of your loan offer as regulated lenders may have different caps depending on loan size and type.
The average credit score for personal loan borrowers in Massachusetts is 720. Borrowers with excellent credit (740+) average 6.65% APR, while those with fair credit (580–669) average 15.20%. However, some lenders accept scores as low as 560-580. Your income, debt-to-income ratio, and employment history also factor into approval decisions.
The average personal loan amount in Massachusetts is $13,500. Most lenders operating in Massachusetts offer loans from $1,000 to $100,000, depending on your creditworthiness and income. Pre-qualifying with multiple lenders lets you see your actual loan amounts without impacting your credit score.
There are 32 lenders actively serving borrowers in Massachusetts, including SoFi, Upgrade, LightStream, LendingClub, Best Egg, Upstart, Discover, Avant, PenFed, and Universal Credit. Each lender has different credit requirements, rates, and loan amounts. We recommend comparing offers from at least 3-4 lenders.
Both options have advantages. Online lenders typically offer faster approvals (often same-day), easier applications, and competitive rates — especially for borrowers with fair credit. Traditional banks and credit unions in Massachusetts may offer lower rates for existing customers with excellent credit. Compare both to find the best deal for your situation.

Compare rates in Massachusetts

Pre-qualify with no impact to your credit score

Check Your Rate in MA
Lauren Vasquez
Lauren Vasquez
Senior Financial Analyst · CFP®, Former Loan Officer

Lauren Vasquez is a Certified Financial Planner with over 12 years of experience in personal lending and consumer finance. She spent eight years as a senior loan officer at Wells Fargo before joining Fast Loan Express to help everyday borrowers cut through the noise and make smarter decisions.