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Personal Loans Discuss personal loans, secured and unsecured, and general borrowing.

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  #1  
Old 04-11-2011, 04:10 PM
Linsey23 Linsey23 is offline
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Default Advice on Personal Loans

I am looking for unsecured personal loan and I heard many different things such as that interest rate is different in each state even if applying at the same bank. Some one is telling me it should be easier to look for local credit union which provides usually lower rate than major banks.

I am planning to apply for about 10k but really have no idea where I should go and apply

credit score is around 690

Does anyone have any suggestion?

Thank you




____________________________________
Alfredo Piacentini

Last edited by Linsey23; 04-11-2011 at 04:23 PM.
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  #2  
Old 05-24-2011, 04:46 PM
ctcushing ctcushing is offline
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Default Re: Advice on Personal Loans

Personal signature loans at commercial banks are pretty rare these days as that market has been displaced by credit cards. And yes, the interest rates could be quite high.

A credit union is probably the best bet (credit union loans typically have simple interest so you immediately start repaying principal which is nice).
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Old 05-27-2011, 06:01 AM
Zara Mari Zara Mari is offline
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Default Re: Advice on Personal Loans

It depends on the amount that you need. How much are you planning for your personal loan? There are payday loans or what you call cash advances. If you need not so much, I guess this would do but if not, go for thrift banks that offer less interest or cooperative banks.
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Old 05-28-2011, 08:10 PM
jmckinstry jmckinstry is offline
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Default Re: Advice on Personal Loans

I think that if you are eligible to join a credit union, it will be your best bet. They tend to be more personal and you do have a little more leverage by being a member.

To see if you are eligible to join a credit union, you can just Google "how an I find a credit union to join". There are several great sites to find one.

Good luck!
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  #5  
Old 05-30-2011, 05:15 AM
loans123 loans123 is offline
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Default Re: Advice on Personal Loans

There are several reasons why unsecured personal loans are so popular with borrowers today. These loans offer plenty of great benefits to the borrowers. The biggest benefit of unsecured loans is that the borrower would not be risking repossession of the property since no collateral is provided for securing the funds. Also, unsecured loans are processed very fast. If you have an emergency need for funds and require the loan on an immediate basis, then there are quite a lot of great loan companies like Wentworth, Barclays, Santander etc that offer instant decisions.
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Old 06-23-2011, 02:26 AM
financemanager financemanager is offline
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Default Re: Advice on Personal Loans

This unsecured personal loans are difficult to avail. Since it is not guaranteed by any assets or collateral the the risk of the lender's are much higher, therefore the lender lets you pay much higher interest. It may be good at time but avoiding personal loans will be much wiser. Try to explore on mortgage or home equity loans. It has definitely lower interest rate than personal loans.

In case you already have decided to get a personal loan, make sure you study and research more, compare different lender options(if any). Also, personal loans has less negotiation but try to negotiate more to get optimal results with the interest rate. Most importantly, pay on time! Aside from it gives you a good credit rating it will also save you from different late fee penalties.

Last edited by financemanager; 06-23-2011 at 02:32 AM.
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Old 06-28-2011, 08:24 AM
loans2compare loans2compare is offline
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Default Re: Advice on Personal Loans

Credit union would be best bet if you can get it ..

http://www.loans2compare.com
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  #8  
Old 06-28-2011, 10:48 AM
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payday250.com payday250.com is offline
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Default Re: Advice on Personal Loans

A credit union would be a good choice, but I assure you there are other places where you can get a loan, even with bad credit, best of luck if you have anymore questions feel free to ask =)
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