Digital News Report – Personal loans are more important than ever as the economy declines, but not all lenders provide the same options.
There are bank personal loans for bad credit customers. The interest rate will depend on the credit score and not all banks will loan to borrowers with a bad credit history.
Unlike payday loans, personal loans carry a lower interest rate and can be paid-off over time. Personal loans include car loans and student loans.
There are two basis types of personal loans: Secured and unsecured. We make phone calls, check websites and monitor press releases to collect our data. The interest rate will depend on credit score, lender and your location.
Kaiser Federal Bank offers personal loans from 5.24% to 18.25%. The Covina based bank offers mortgages, personal loans and other banking services.
Northern Trust has personal loan rates starting at 7.5%.
HSBC offers personal loans starting at 6.99%. The top-end rate is 12.39 percent.
The Chicago based Harris Bank has personal loans starting at 5.5%.
The rate may depend on loan amount. The payment amount will also depend on the term or length of the loan. The term of the loan can be as much as 60 months.
By Tina Brown