Rates for personal loans vary widely. The cheapest rates are available for those with a good credit history and minimal existing debt. But, even with a few hiccups in your own financial past, you may still be able to qualify for a personal loan with a rate below 10 or 12 per cent.
If you are applying for a secured loan, you’ll be more likely to qualify for the lowest rates. A secured loan simply means using an asset as security for the loan, such as a car or property. The length of your loan term also impacts the rate. At Naked Loans, we offer personal loans ranging from 12 months to 84 months. Apply today – we can even help those who have been turned down by the banks.