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Fixed Or Variable Rates For Unsecured Personal Loans
October 21st, 2011 by admin
Is it better to get interest rates that are fixed or variable? It depends on what you need. Generally, a fixed rate on Unsecured Personal Loans is preferable for most people because they can gauge how much interest they will be charged on an annual basis. This number will only change if they miss 2 consecutive payments – most lenders will jack this up to the high 20 percent if that happens. On the other hand, variable rates can also be okay if you like playing the market. If the market rate is up, your interest rate also goes up but when it goes down, your rate will go down as well.