Kosmik
Honorary Master
Hi guys,
Pretty much as the subject says, what is a decent rate for a personal loan these days?
Pretty much as the subject says, what is a decent rate for a personal loan these days?
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Personal loans - Whats a decent rate?
- Thread starter Kosmik
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drukkie
Expert Member
+5? all depends on your risk profile...
I've heard of one guy getting prime + 2.5, when I applied I was given such a horrid rate that it would have been cheaper to borrow money on my CC than take the personal loan.
The risk profile thing is a load of hogwash. The banks love customers who pay off the bare minimum and ask for extensions. They hate the guys who can pay off a loan in half of the time.
The risk profile thing is a load of hogwash. The banks love customers who pay off the bare minimum and ask for extensions. They hate the guys who can pay off a loan in half of the time.