List of 3 Best Low-Interest Personal Loans:–
Today I want to talk to you guys about the three best personal loans that I’ve found and seriously I looked everywhere for a personal loan I checked banks I checked credit unions I checked online I had to look everywhere because I needed one in my personal life and now I’m gonna share with you guys the three best companies that I found so you can make your own decision if you’re looking for a personal loan.
1.The pros and cons:-
Each of them so that you can make your own decision if you’re looking for a personal loan now if you just came across this channel I do talk a lot about financial subjects so if you’re interested in this type of content then.
The first question you’ll be asking is why exactly? would you want to get a personal loan so for me personally I had to look for a personal loan because I had a ginormous yard project that I had to complete and I didn’t want to do a home equity loan or anything like that because the rates and terms were a lot more simplified to just do.
2.A personal loan:-
A personal loan so basically if you’ve got big home improvements or you’re gonna do something expensive like adoption or you’ve got really expensive medical bills then I would suggest going with a personal loan and I’d also recommend one if you’re trying to consolidate your credit card debt because if you’ve got credit card debt and you take a personal loan then the rate on the personal loan is probably going to be a lot better than your credit cards rate.
3.credit card rate:-
And in the financial terminology they would call this a debt consolidation loan you’re just taking your credit card debt and you’re moving it into a personal loan that hopefully has a better rate the only warning that I have though with consolidating credit card debt is that you’ve got to get on top of your credit cards otherwise you’re going to end up with two bills if you don’t change your spending habits you’re gonna end up with a personal loan and you’re gonna have credit card debt so everything’s just going to get worse so if you do end up consolidating your credit card debt through a personal loan or anything like that then just make sure your spending habits change.
charge origination fees:-
1% on like $10,000 is only a hundred bucks but it’s still a hundred bucks that you’re giving up when some of the other guys don’t actually charge that and most of the big banks and the credit unions that I looked into had rates that were so high that I didn’t even bother looking any further so with all the research that I had to do to figure out which personal loan I actually wanted to go with the conclusion I came to was these
three specific companies:–
That’s because they didn’t charge any dirty fees they didn’t have prepayment penalties and their rates and their terms were really good so one more thing I want to mention about these lenders and getting personal loans is that you have to have a really high credit score in order to even qualify for these loans through these lenders.
The first lender for personal loans
that I want to talk about is American Express so honestly, I had no idea that American Express tat personal loans I just thought that they focused mainly on credit cards but apparently they do personal loans and they even have savings accounts that have better rates than most banks and once I started looking into.
American Express as personal loans:-
they actually had really good rates and really good terms their rates are currently about seven to twenty percent you can borrow thirty-five hundred to forty thousand dollars from American Express and they offer 12 24 and 36-month loans.
so when you compare these numbers to other lenders American Express is extremely competitive but just keep in mind that you do have to be an American Express cardholder in order to actually get one of these personal loans from them now take a look at this ad that I got from American.
with one of their loans if you have less than 20% social finance is kind of the new way to get loans and they’ve proven it because they’ve actually lent it out over 30 billion dollars so far they’ll even give you half a quarter percent discount if you have more one loan with them – and they even offer what they call unemployment protection which means if you lose your job they’ll actually freeze your payments temporarily until you find a new job so that’s kind of nice – so currently Sophie offers personal loans from about five and a half percent to fourteen percent and they’ll let you borrow.
between 5000 and $100,000 and then you can choose to pay them back between three and seven years one thing I did notice though is that their loans fluctuate based.
SunTrust Bank these guys are actually big bank:-
owned because of SunTrust but they offer some of the best rates and the best terms that I found from all of these different companies and they do advertise that there’ll be any competitors rate by a tenth of a point as long as it’s the same type of loan light streams personal loan rates are about 3 to 14 percent which is incredible and they’ll also loan between 5,000 and $100,000 their term length ranges from 24 to a hundred and forty-four months which is actually 12 years if you really wanted to maximum.