personal loan question?

[lilws6]

if i were to say get a loan for $1000 what are the normal terms. i mean whats the normal time frame they give you to pay it back like a year or two years? i figured worse case intrest is 13% just looking at some options of boosting my credit a lil more

[ThatWhiteCivic]

I have a PL out for 3,xxx dollars from Educators CU. 3yr. loan, interest around 11%.

[LIZMO]

i got a $3000 one for 18/months and intrest was 8 or 9% through summit credit union.

[lilws6]

if i could do a 2 year type thing just for credit sake that wouldn't be back but i was just wondering if something like $1000 was too little for a loan that long?

[PureSound15]

Depends on the institution.

Credit union is your best bet for anything unsecured. If you're trying to build credit, a good option is a CD secured loan.

Basically you'll be loaned $1000 (whatever you want it to be) and that money is deposited directly into a CD. You make the payments on the loan, but when the term is up you can receive the money from the CD. You'll end up paying pennies in interest (pending the spread), you'll have indirectly saved up $1000 and you'd get the credit history benefit.

PM me with what you're trying to do and I'll see if I can help. Educators is a great CU for unsecured stuff and they're always extremely competitive on rate.

[BoosTT]

Rates and terms are listed on landmarkcu.com

[Force4]

Talk to your bank. I took an 8k loan out on my truck with 9% interest and have 3 years to pay it back. I think its like 220 a month for the payments. Maby just get a credit card?

[rally_scort]

Im also interested in a personal loan for about $5k to pay off court related restitution.What would be the best option for an unsecured loan?

[lordairgtar]

You can also talk to Citi-Financial.

[WilliamZ]

If you are looking to boost your credit get a secured credit card through your bank, no need to waste on interest money doing it.

[lilws6]

well i plan on buying something in spring with the money that i can't use a credit card for. was looking to build more credit with it. i could get a secured credit card but i'de be tempted to use the crap out of it and would rather stay away from that.