I know some personal loans can have very high rates, some even have year charges that you have to pay outside of what you owe. I don't want to get overwhelmed here or anything so I am wondering what the standard rates are for personal loans and what would be a good option to go with?
As I know usually range from 15% to 25% and It depends from your credit score.
They can be as low as 7% but this is only for really good scores. Back when I was having money troubles, I tried to take one out and the rate would have been 33%. No joke.
lamar_jakubowski: They can be as low as 7% but this is only for really good scores. Back when I was having money troubles, I tried to take one out and the rate would have been 33%. No joke.
Not too bad. Recently i found somewhere in news that one guy took $300 with rate 59%.
Some banks offer personal loans with rates as low as 3%, I can only imagine the requirements you have to fulfill to get offered that.
Before taking out a personal loan, ask family and friends if they can help first. It could save you a nice chunk of money.
It depends on the bank as well. Credit unions often have lower interest rates but they are very selective in their banking process. You either have to have family at the bank or some form of city job tied in with the state.