Digital News Report – Few banks changed their unsecured personal loan rates this week in the United States.
Americans are trying to make ends meet while government services are being stretched thin. The US Bureau of Economic Analysis reports that the total amount of public assistance declined to $19.9 billion in the third quarter, down from $20.2 billion the year before.
Personal income increased only 0.3% while personal consumption increased 0.4%. Personal loans include auto, unsecured and secured personal loans.
More Americans are applying and taking out personal loans, according to data provided by the Federal Reserve.
Personal Loan Rates
Kaiser Federal Bank had personal loan rates starting at 4.99%. The rate will depend on the loan amount and the credit history of the borrower. Their upper rate is 11.75%.
Wells Fargo had a rate of 15.10%. The lowest rate was 4.49%.
Bank of America had rates starting at 2.99%.
By Tina Brown