michael_trussell
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No that's rather a good interest rate provided it's just using your signature for the loan and not providing collateral. |
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Rich T
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Yes I think it is. I was in Lloyds Tsb the other day and I am sure they had a rate of around 7% |
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jerrywv
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As of today, it's very reasonable, especially when the prime rate is now 8.5%. A personal loan is always much higher than a secured loan. |
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tiny a
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when i was deep in debt i used this page to compare different options available to me. worked like a charm! |
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mamadukes
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No not really, you might find someplace that will give you a loan for less, but depending on your credit history it could go either way....8.8% is not bad, just check out the APR'S on your credit cards its ridiculous, I am sure, as mine were until I consolidated.
Good Luck. |
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LiTlE S
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if you're in debt, i suggest you take a look at this site. just fill out the form and take it from there. |
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copperauto690
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it is a resonable rate, a lot of banks including Lloyds advertise loans at a much lower rate but as soon as you say for deby consolodation the rate is increased. Llloyds charge about 11% on debt consolodation loans. |
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5yellowchips
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Its not very high but you can get better.
Try zopa. |
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mollly_dollly
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Yes, it is. There are some companies around who do it for around 7.9 apr. You need to shop around a bit more, dont consolidate with that just yet, there is a company called red to black, or something similar, they offer a very low rate! |
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Culture Warrior
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If you are consolidating credit cards into an unsecured loan, than no that is not high. Prime is at 8.25% and that is the rate that forms the basis for most commercial loans.
You are about .75% over prime. If it is a fixed rate I would not complain. If you have a very high net worth, then you might be able to get a better rate, but consolidation loans are not always the most attractive loans for banks to do. |
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jude_caryer
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The internet is one of the best places to research loan deals. I would recommend checking out two sites:
http://www.moneysavingexpert.com/banking
http://www.fool.co.uk
You'll be able to read up on the pros and cons of consolidation loans, along with finding the best deals.
If you're really up for sorting out your finances, read the Motley Fool's pages on getting out of debt... it really helped me out. |
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mcfifi
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Yes, that's high.
Shop around a bit. |
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Snot Me
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if anything its quite low for a consolidation loan but what are the penalties check the small print. try for a standard loan the rate will be cheaper |
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