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Samples of Debt Consolidation Reduction Loan Rates Of Interest

Samples of Debt Consolidation Reduction Loan Rates Of Interest

Below is an example of what you could expect for debt consolidating loan rates of interest at a bank, credit union, and online lender in the summertime of 2019. Prices at your lender may differ.

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

Good Credit (above 720):

7.25% interest rate

$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 per month

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

BANK

Good Credit (above 720):

6.99% rate of interest

$197.96 payment per month

$11,877.89 total repayment ($10,000 major plus $1,877.89 total interest over lifetime of loan)

Average Credit (660-720):

9.050% rate of interest

$207.83 payment that is monthly

$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% rate of interest

$252.71 payment per month

$15,162.71 repayment that is total$10,000 major plus $5,162.71 total interest over life of loan)

CREDIT UNION

Good Credit (above 720):

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