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Begin preserving: paying down a personal bank loan vs. paying down your charge card

1000s of Canadians utilize signature loans to pay for their credit card debt off and spend less on interest. Here’s exactly how much a typical debtor could save yourself by settling $7,000 in personal credit card debt by having a personal bank loan:

Charge Card Personal Loans
Creating Balance $7,000 $7,000
Interest 19.99% 10.00%*
payment per month $350 $350
time for you repay financial obligation 25 months 21 months interest that is total1,585 $698

*Example just. Rates of interest can vary.

Amount conserved = nearly $900

Your individual loan questions, responded.

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