Types of Debt Consolidating Loan Rates Of Interest

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):

7.25% interest

$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

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