Personal Loans Guide Poughkeepsie NY

A personal loan is one of the most common forms of loan in Poughkeepsie. In fact a personal loan will take the shape of more specific types of loans. For instance there are all different types of special interest loans such as homeowner loans or even car loans. For the best results in the finance industry there is a lot to learn about the basic loan.

Local Companies

Chase Bank
(845) 221-2881
817 Rte 82
Hopewell Junction, NY
Bank of America - Ulster Avenue
800.432.1000
1343 Ulster Ave
Kingston, NY
TD Bank
845-229-2675
4240 Albany Post Road
Hyde Park, NY
Citizens Bank - Poughkeepsie Burnett SS
845-452-2391
59 Burnett Blvd.
Poughkeepsie, NY
Citizens Bank - Fishkill
845-896-7910
463 Route 9
Fishkill, NY
HSBC Bank
1.800.975.HSBC (4722)
Near Ibm Plant 1941 Route 52
Hopewell Junction, NY
Bank of America - Kingston
800.432.1000
451 Washington Ave
Kingston, NY
Bank of America - North Plank Rd
800.432.1000
86 North Plank Rd
Newburgh, NY
Citizens Bank - Ulster
845-336-7920
1300 Ulster Ave. Suite 110
Kingston, NY
Citizens Bank - Meadow Hill
845-564-3500
1416 Route 300
Newburgh, NY

Provided By:

A Guide To Personal Loans

Author: Steve Smith

A personal loan is one of the most common forms of loan. In fact a personal loan will take the shape of more specific types of loans. For instance there are all different types of special interest loans such as homeowner loans or even car loans. For the best results in the finance industry there is a lot to learn about the basic loan.

There are two types of different loans, The first is the secured loan. A secured loan is when collateral is used against the loan. This is usually an item of value which is given to the lender in case the borrower cannot make the payments on time because this is less risk to the lender they will be more inclined to give better rates to the borrower.

The other is the unsecured loan, this is the opposite to the secured loan. The unsecured loan is when one does not have collateral to use against their loan and as a result this sort of personal loan will have a higher interest, which means it will be costlier and less friendly.

Personal loans come with attached fees, this is what the lender will make his money off of. These fees are called interest rates, although some lenders can implement other types of fees. The interest rates are referred to as a percentage, which is worked out against the total amount owed to the lender. Interest rates can differ between one lender to another. An interest rate can be compounded at different periods.

The difference between the common personal loans from other types of loans is that they are not normally used for business or commercial uses. The personal loan is used to describe various loans, if looking for a business or commercial loan there would normally be different terms in the agreement and also the rates would be different. On the flip side, personal loans are aimed at ones personal life i.e. buying a car, or a personal item even a house.

It should be noted that a personal loan will be either variable or fixed rate. If you have future plans the fixed rate is good as it will not change under usual conditions. The variable rate will change with the market which can sometimes be a good thing or a bad thing. If it looks like the economy is looking as if it is a lenders market then opt for the fixed rate. In any other circumstance the variable rate could be a good decision.

Closing comments

It is hard to avoid personal loans, there are too many things that are needed in everyday life, things that are often too expensive for the average consumer. Although sometimes a loan cannot be avoided, it doesn't always have to be that the loan works against the consumer. For the best tips and guidelines it is best to speak to a financial consultant.

About the Author:

Steve Smith writes for All About Loans where visitors can apply online for cheap personal loans . We also specialise in online tenant loans, and secured home loans . Visit today http://www.allaboutloans.co.uk

Article Source: http://www.articlesbase.com/finance-articles/a-guide-to-personal-loans-1067075.html

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