Samples of Debt Consolidating Loan Rates Of Interest
Below is an example of what you could expect for debt consolidating loan interest levels at a bank, credit union, and online lender in the summertime of 2019. Prices at your loan company might differ.
That is according to a $10,000 debt consolidation reduction loan, with a term that is 5-year.
Good Credit (above 720):
7.25% rate of interest
$199.19 payment that is monthly
$11,951.62 repayment that is total$10,000 principal plus $1,951.62 total interest over lifetime of loan)
Average Credit (660-720):
10.25% rate of interest
$213.70 payment per month
$12,822.16 repayment that is total$10,000 principal plus $2,822.16 total interest over life of loan)
Bad Credit (under 660):
19.65% rate of interest
$263.00 payment that is monthly
$15,779.71 repayment that is total$10,000 major plus $5,779.71 total interest over lifetime of loan)