The time frame for a $10,000 personal loan repayment schedule depends on how much you can easily afford on a monthly basis. Most lenders offer 3-5 year repayment terms for small loans, but some lenders may also offer up to 12 years. Being able to find the cheapest interest rate can actually help you repay your loan faster. So how do you figure out if you have a fair interest rate? What is the average percentage rate on a personal loan? Depending on your location, the average interest rate can vary. In California, the average rate is about 10.26%. In Hawaii, the average interest rate is about 6.76%, which is one of the lowest averages. In most places, the average rate is between 9 and 11%.