Types of Debt Consolidating Loan Rates Of Interest
Below is an example of everything you can expect for debt consolidation reduction loan rates of interest at a bank, credit union, and lender that is online the summertime of 2019. Prices at your loan company might differ.
This might be centered on a $10,000 debt consolidating loan, with a 5-year term.
Good Credit (above 720):
$199.19 payment per month
$11,951.62 total payment ($10,000 principal plus $1,951.62 total interest over life of loan)
Average Credit (660-720):
10.25% rate of interest
$213.70 payment that is monthly
$12,822.16 repayment that is total$10,000 major plus $2,822.16 total interest over life of loan)
Bad Credit (under 660):
19.65% rate of interest
$263.00 payment that is monthly