Question: Is 6 A Good Interest Rate?

The average interest rate for someone with average credit is about 5% to 6%.

The interest rate for someone with bad credit varies from 6.5% all the way up to 12.9% or more on average.

Overall, keep in mind that your credit score – good or bad – has long term consequences.

What is a good interest rate for a car?

Here is a breakdown of the typical interest rates you can expect with different credit scores: 850 – 740: Excellent credit score – 3.2% interest rate (on average) 739 – 680: Average credit score – 4.5% interest rate (on average) 680 and below: Sub-Prime credit score – 6.5 – 12.9% interest rate (on average) *

What is a good interest rate?

Interest Rates for Personal Loans

An estimated range of interest rates on personal loans for consumers with fair to good credit is currently between 6% and 36%. Although it is important to shop around for the lowest interest rate, each time a lender pulls your credit history, it is noted on your report.

What is a good interest rate on a credit card?

However, the average interest rate on credit card accounts that are actually being charged interest is 15.54%. Low interest credit cards have a lower average of 13.99%, while cash-back credit cards average out at a much higher 17.09%. The average interest rate for credit cards from credit unions is only 9.37%.

What is a good interest rate for mortgage?

According to Bankrate.com, the average national average interest rate is 3.87% with .43 points. The national average for a 15-year fixed mortgage loan was 4.35%, but a survey of 50 of the top 200 lenders by Informa Research Services, Inc.