Is a 14% interest rate bad?

A good personal loan interest rate depends on your credit score: 740 and above: Below 8% (look for loans for excellent credit) 670 to 739: Around 14% (look for loans for good credit) Below 579: Around 30% (look for loans for bad credit)

Is 12% a high interest?

A good interest rate on a personal loan is one that’s lower than the national average—less than 12% in March 2021. That said, the actual interest rate you’ll qualify for depends on several factors, and lenders frequently charge other fees that can make a loan more expensive.

Is 14 interest rate too high for a car loan?

According to Middletown Honda, depending on your credit score, good car loan interest rates can range anywhere from 3 percent to almost 14 percent. However, most three-year car loans for someone with an average to above-average credit score come with a roughly 3 percent to 4.5 percent interest rate.

Is 15 Apr good for a loan?

A 15% APR is good for credit cards and personal loans, as it’s cheaper than average. On the other hand, a 15% APR is not good for mortgages, student loans, or auto loans, as it’s far higher than what most borrowers should expect to pay. A 15% APR is good for a credit card. The average APR on a credit card is 18.26%.

Is 15 percent a high interest rate?

From 2018 through 2020, that number fluctuated between 13.63% and 15.13%, so it’s a good bet anything below 15% is average or better. Credit cards that were assessed interest had higher average APRs—15.91% was the average in the first quarter of 2021 and got as high as 17.14% between 2018 and 2020.

Is 10 percent a good interest rate?

Generally, a good interest rate for a personal loan is one that’s lower than the national average, which is 9.41%, according to the most recently available Experian data. Your credit score, debt-to-income ratio and other factors all dictate what interest rate offers you can expect to receive.

What is a good interest rate for a 60 month car loan?

The national average for US auto loan interest rates is 5.27% on 60 month loans.