Digital News Report – There are several types of personal loans including unsecured and personal. Many borrowers can save money by securing their loan with a car, boat or other valuable.
Unsecured personal loans can be very difficult to acquire in these tough economic times. There are some advantages to a personal loan over a payday loan. Some Americans are already straddled with debt and are looking for an unsecured debt consolidation loans.
Capital One had an incredibly low rate this week. The bank has personal loan rates starting at 2.99%.
Unsecured loans will carry a higher percentage rate. Banks will usually give customers who deposit money in their bank a lower rate. Poor or bad credit scores will prompt a higher rate too.
Union Bank had unsecured rates starting at nine percent. Depending on the credit score, the bank could charge upwards of 19.158%.
Bank of America had rates starting at 3.09%. BofA offers a wide range of products including new and used car loans.
Today we found Wells Fargo had a rate of 15.10%. The bank has personal loans rate starting at 4.49%.
By Tina Brown