What are online bank loan interest rates?
If you need to borrow a significant sum of money and are able to repay it over a short term, a personal loan may be the ideal solution. However, it is crucial for the consumer to keep in mind that the online bank loan interest rate they may be required to pay is highly dependent on their personal circumstances and risk as a borrower. This means that, while secure clients are charged the prime lending rate of 9%, the interest on the loan can be as costly as up to 40%. In the end, you will end up paying a lot more than what you originally borrowed.