Types of Debt Consolidation Loan Rates Of Interest

Types of Debt Consolidation Loan Rates Of Interest

Below is an example of that which you can expect for debt consolidating loan interest levels at a bank, credit union, and online lender in the summertime of 2019. Prices at your loan company might vary.

It is predicated on a $10,000 debt consolidation reduction loan, having a term that is 5-year.

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 total payment ($10,000 major plus $2,822.16 total interest over life of loan)

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