Question by joyce: What is a good intrest rate for a personal loan?
I took out a personal loan from a credit union for 00. The intrest rate is 9.9% and I have 5 years to pay it back. Did I get a good deal? My credit is in excellent condition, I have never been late on a bill and I have one student loan bill already pain in full.
Answer by batwanda
hi there, I think you got a fine enough interest rate on an unsecured personal loan. Truly, since you offered no collatoral except your promise to pay, this is a fine rate. Take your monthly payment and add a bit to it each month and you will pay it off faster and spend less on interest.
ps im a mortgage broker
Know better? Leave your own answer in the comments!