When you're trying to consolidate debt, cover unexpected expenses, or borrow money for a large purchase, a personal loan may be your go-to option. And naturally, one of the most crucial factors to consider when taking out a personal loan is the interest rate. Currently, the average personal loan interest rate hovers around 12% to 13%. However, it's important to note that this figure is just a benchmark, and individual rates can vary widely based on several factors. Let's take a look at the state of personal loan rates right now, and what you can do to get the best possible rate for your financial situation.How personal loans workPersonal loans are typically unsecured loans, meaning they don'
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