Below is an example of everything you can expect for debt consolidating loan rates of interest at a bank, credit union, and online lender in the summertime of 2019. Rates at your lender might differ.

It is according to a $10,000 debt consolidating loan, by having a 5-year term.

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 life of loan)

Average Credit (660-720):

10.25% rate of interest

$213.70 payment per month

$12,822.16 total payment ($10,000 major plus $2,822.16 total interest over life of loan)

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