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Digital News Report – Personal loans have become very popular according to data released by the Federal Reserve. Here are some of the personal loan rates for December 5th 2010.
We monitor press releases, make phone calls and check the Internet for personal loans rates.
There are many types of personal loans, including unsecured, secured, car loans and debt consolation loans. Banks will usually charge a lower rate for secured loans. Cars and other valuables can be used to secure the loan.
Kaiser Federal Bank had a rate of 11.75%. The final rate could depend on several factors, including credit score and loan amount. The lowest rate the bank charged was 11.75% and the highest was 18%.
This week Union Bank had a rate of 17.75% on their unsecured personal loans. Depending on credit history and loan amount, the rate could be as high as 19.177%.
SuntTrust had rates as low as 3.99%. The percentage rate is dependant on collateral and credit history. We found a rate as high as 12.99%.
Americans can save money by becoming a customer of the bank they receive a loan from. The rates for personal loans, whether secured or unsecured, are lower than payday loan rates.
The amount of outstanding non-revolving credit increased from $1.587 trillion in August to $1597.8 in September. “Revolving credit declined 8-3/4 percent at an annual rate, and non-revolving credit increased 2-1/2 percent”, the Fed said ain a statement.
By: Tina Brown