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Home » Business » Personal Loan Rates even for People with Bad Credit – Some banks Lower Rate

Personal Loan Rates even for People with Bad Credit – Some banks Lower Rate

By Tina Brown on November 28, 2010
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Digital News Report – Personal loan rates don’t change frequently but we found a change at Wells Fargo this week. Personal loans are cheaper today compared to last week at this time.

The amount of money involved in non-revolving personal loans jumped nearly 8% in September, according to the latest release from the Federal Reserve. Compare that to 4.4% for the entire year of 2007. Personal loans are becoming more popular.

We monitor personal loan rates by making phone calls, checking websites and monitoring press releases. Last week Wells Fargo offered personal loans for as little as 6.24% and as much as 28.46%.

The rates will depend on several factors including credit history. Secured personal loans will usually carry a lower interest rate. Customers can secure a loan with a car, boat or other valuable.

This week Wells Fargo offered personal loans for between 4.49% and 18.74%. Rates are always subject to change.

Wachovia is offering personal loans from 6.99% to 11.24%. Again, credit history is a factor. ,b>Northern Trust had a rate of 7.5%.

The Federal Reserve reported an average personal loan rate in August was 10.71%. The rate for September was not available.

By Tina Brown

  1. Personal Loan Rates for People with Bad Credit
  2. Personal Loan Rates – Bank customers receive lower prices even with bad credit
  3. Personal Loans for People with Bad Credit – Capital One Wachovia and Key Banks
  4. Personal Loan Rates Today for People with Bad Credit
  5. Personal Loans for People with Bad Credit – Bank Interest Rates Wednesday

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