Types of Debt Consolidating Loan Interest Levels

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

It is considering a $10,000 debt consolidating loan, with a term that is 5-year.

Good Credit (above 720):

7.25% rate of interest

$199.19 payment per month

$11,951.62 total payment ($10,000 principal plus $1,951.62 total interest over lifetime 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 lifetime of loan)

Bad Credit (under 660):

19.65% rate of interest

$263.00 payment that is monthly

$15,779.71 total payment ($10,000 major plus $5,779.71 total interest over lifetime of loan)

BANK

Good Credit (above 720):

6.99% rate of interest

$197.96 payment

$11,877.89 repayment that is total$10,000 major plus $1,877.89 total interest over life of loan)

Average Credit (660-720):

9.050% rate of interest

$207.83 payment per month

$12,469.58 repayment that is total$10,000 major plus $2,469.58 total interest over life of loan)

Bad Credit (under 660):

17.775% interest

$252.71 payment that is monthly

$15,162.71 total payment ($10,000 major plus $5,162.71 total interest over life of loan)

CREDIT UNION

Good Credit (above 720):

6.89% rate of interest

$197.00 payment that is monthly

$11,820 repayment that is total$10,000 principal plus $1,820 total interest over lifetime of loan)

Average Credit (660-720):

9.428% rate of interest

$209.67 payment per month

$12,580 total payment ($10,000 principal plus $2,580 total interest over lifetime of loan)

Bad Credit (under 660):

16.637% rate of interest

$246.58 payment that is monthly

Categorie

ON LINE LENDER