What is a good personal loan rate?
Personal loan rates are generally lower than credit card rates but do vary widely, from nearly 20 per cent down to about 5 per cent.
Right now, savvy consumers who shop around and compare deals can find competitive personal loans that require no security (like a car) for under 12 per cent per annum.
Don’t just check the big banks. The credit unions and smaller lenders are very competitive in the personal and car loan markets.