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What else can I help you with?
Can payday loan interest be reported on your income taxes?
No. Deductible interest includes student loan, investment, and qualified residence interest. Payday loan interest is considered personal interest. Personal interest isn't deductible.
In general would interest rates for a personal loan be lower or high than those for a business loan?
In general the interest rates for a personal loan would be higher than for a business loan. The risk of losing money with business loan is not as high as with personal loan.
What is the interest rate on an unsecured personal loan?
The interest rates on an unsecured personal loan vary greatly from loan to loan. If your loan is through a Credit Union, it can be as low as 1.9%, whereas if it is a high-risk loan secured through a private business, the interest rate could be as high as 30% or more.
How much can you expect to pay in a loan settlement?
You can expect to pay the amount of the loan minus the interest and fees. This is significantly lower than the amount asked. Sometimes it is a pwrcentage of the loan.
Is it possible to obtain an auto loan if you have bad credit?
It is possible, but you should expect to pay a larger downpayment and have a higher interest rate.
Can payday loan interest be reported on your income taxes?
No. Deductible interest includes student loan, investment, and qualified residence interest. Payday loan interest is considered personal interest. Personal interest isn't deductible.
Why should you get the lowest interest rate?
That is simply not true. It might be better to get a higher interest rate which is fixed for the term of the loan if you expect interest rates to rise.
Can you deduct interest from a signature loan?
"Personal" interest is NOT deductible.
In general would interest rates for a personal loan be lower or high than those for a business loan?
In general the interest rates for a personal loan would be higher than for a business loan. The risk of losing money with business loan is not as high as with personal loan.
What is the interest rate on an unsecured personal loan?
The interest rates on an unsecured personal loan vary greatly from loan to loan. If your loan is through a Credit Union, it can be as low as 1.9%, whereas if it is a high-risk loan secured through a private business, the interest rate could be as high as 30% or more.
What are the cons of having a fixed rate personal loan?
Fixed personal loan interest rates are typically higher than variable rates. If interest rates rise, your personal loan rates will look like a bargain, but on the other hand,if interest rates fall, your bank loan will look expensive.
How much can you expect to pay in a loan settlement?
You can expect to pay the amount of the loan minus the interest and fees. This is significantly lower than the amount asked. Sometimes it is a pwrcentage of the loan.
What to consider taking out an unsecured personal loan?
What the interest rate is and loan agreement
Is it possible to obtain an auto loan if you have bad credit?
It is possible, but you should expect to pay a larger downpayment and have a higher interest rate.
What kind of collateral is used for a personal loan?
It depends on the type of personal loan. It is possible to get a loan using only a good credit score as collateral. If you do not have good credit, it is still possible to get a loan without collateral, but you can expect to pay a much higher interest rate. It is also possible to use a vehicle or property as collateral.
What are the average loan interest rates for a small business?
There are many variables that factor into the interest rate of a loan. For instance, the interest rate on a loan below $100,000 is actually higher than that on a loan over $100,000. Expect an interest rate between 7-9%.
Is interest from a personal loan tax deductible?
Not in Canada.
