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Digital News Report – Personal loans have become very popular these days as home values continue to decline and paychecks continue to shrink. Whether or not you own a home, personal loans are available.
This week we will look at the personal loan offerings of TD Bank. Unlike payday loans, personal loans do not have to be paid back in full on your payday. They are installment loans and your rate will vary according to your credit.
TD Bank is one of the nation’s largest banks. They offer:
Automobile Loans
Recreation Vehicle/Boat Loans
Collateral Loans
Personal Unsecured Loans
Your interest rate will be lower if you have some sort of collateral. A boat, a bike, a car or home / condo could help ensure you get the loan.
The bank does offer personal unsecured loans. This means you do not need to have collateral to get the loan.
The interest rate will be determined by your credit score, loan amount and location. Typically the bank will offer personal loans from $2,000 to $50,000 with interest rates between 9.09 percent and 9.99 percent.
The monthly payments for these loans will range from $212 to $1,040, depending on the loan amount.
The company says that you can borrow what you need with no annual fee and a fixed low interest rate. There are no closing costs associated with their personal loans.
By: Tina Brown
Personal Finance Reporter