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Digital News Report – There are various types of personal loans, even for people with bad credit scores. Customers may need the money to pay-off medical expenses, cars, boats or even to make ends-meet.
There are various ways to acquire a personal loan. Cars, homes and other valuables can be used as collateral, but non-payday loans may still be available to people with a bad or poor credit scores. Interest rates may depend on the borrowers credit history.
We make phone calls, check websites and monitor press releases to acquire interest rate data. The rate may depend on several factors, including credit history, collateral, and income. Not all banks provide the same rate and those rates may depend on your location.
We found Mutual of Omaha with personal loan rates starting at 5.79%. The Nebraska based company was founded in 1909 and has branches throughout several states.
Wachovia had a personal loan interest rate of 9.12%. The Charlotte, North Carolina based bank is now owned by Wells Fargo and has branches throughout much of the United States. The low-end rate was 6.99% and their upper-end rate was 11.24%.
Citibank also offers personal loans. Their rates start at 10.49% and go up to $25.49%.
Personal unsecured loans require less paperwork than mortgages, but since there is no collateral, may carry a higher interest rate. Always check with your financial professional before making any decision.
By: Tina Brown