There are many personal loans out there that can be gotten from different financial institutions and lenders. However, most of these personal loans come with high-interest rates, and people are always on the lookout for personal loans with low interests. This can be gotten with a credit union, and there are different low interest personal loans you can easily access, depending on your specific needs. Below are some of these personal loans; let’s take a look.
Unsecured Personal Loan
This is one of the low-interest personal loans that doesn’t come with collateral attached. There are different low interests attached and can usually be played through different methods like payroll deduction, automatic transfer, cudonline, and many other methods within 36 to 60 months. The minimum amount on such loans is $250, and it goes higher from there.
Secured Personal Loans
There are different personal loans available with different lenders, and this kind of loan requires a form of collateral. You can choose to collect this loan to fund a hobby or to buy vehicles if you want to have some fun. There are also low-interest percentages with this loan, and it can be paid on a stretch of thirty-six to sixty months through different payment options. There is also the availability of 100% financing on new collaterals.
Share Secured and Share Certificate Secured Loans
This is an excellent loan for those with investments that are not ready to cash in yet; this low-interest personal loan allows you to get funds at a very low-interest percentage while you still earn interest on your savings. The share secured loan terms are up to 48 months, while shared certificate depends on when the certificate matures. There are also simple payment options that the borrower can explore.
Overdraft Line of Credit
This is another type of low-interest personal loan that people can explore according to their needs. The overdraft line of credit is a type of loan that is sent to your checking account every time you make an overdraft on the account. Interest is usually charged on the balance of the loan, and there would be no charges if you do not use the service.
A new type of personal loan is the Auto Equity, which also comes with a low-interest percentage. This auto equity loan gives you to clear the auto loan you have previously paid down. The interest loans on this kind of loan are typically low, and the accumulated equity can be used for other things like paying off another debt or taking care of other expenses.