A lot of people can relate to having some financial difficulties. If one does not have the funds to make an essential purchase or to pay off debts personal loans can be very helpful.
Use of Personal Loan in the U.S
The personal loan can help a person when they are in very straining credit situations. A lot of Americans use the personal loan to pay debts. The loan is beneficial when it comes to making personal purchases such as fund a car purchase or make some home improvements.
Some of the advantages of this loan include;
(1) They have low rates on interests, and the banks have very competitive offers.
(2) The process of applying for the loan is simple, fast and can be done online. A person can get the loan within five business days or less.
(3) The rates offered by banks are much better than credit cards.
(4) They are not tied to a specific asset.
(5) The loan can finance a lot of expenses and needs.
Here are some banks that offer personal loans.
- PNC Financial Services Group Inc.
This is one of the largest banks in The United States. It is ranked number 7 on the most significant banks. The rates are as low as 7.74% but depend on the loan type and the size as well.
- Toronto-Dominion Bank.
This bank allows the clients to get the loan easily. One can lock the monthly payment through the unsecured program. They offer an interest rate of less than 10%.
- U.S. Bancorp.
The U.S Bancorp offers the service to their members at reasonable interest rates of about 8.99%. For people looking for help to fund their home improvements such as energy efficiency, the rates could be lower. A member can apply for the loan online if they have been members for more than 120 days and counting.
- SunTrust Banks, Inc.
This bank has loan s for almost everything. They are effective and have their own light stream. The rates are pleasing and could be as low as 1.99%. It all depends on the amount, and one can even get the money on the same day.