Shopping around for the best personal loan interest rates? Here’s what you need to know about personal loan interest rates before you borrow.
Interest and APR Information
When you’re shopping for a personal loan, the first thing you’ll likely want to know is what the interest rate will be. Interest rates don’t tell you everything you need to know, because interest rates alone don’t take into account any fees you may be charged during the life of your loan, such as the origination fee.
Last month the Federal Reserve announced plans to raise short-term interest rates to between 0.25% and 0.5%—a move that affects millions of people’s lives. The good news for consumers is that this is a small hike. If you have no or low debt, the rate hike probably won’t affect you significantly. But the average U.S. […]