When looking for a loan. Always look for the APR (Annual Percentage Rate) this is an indication of what interest will be charged and also an indication of what type of customer they are looking for.

• If you have a fantastic credit rating then you need to be looking at a APR for a personal loan of about 6-9%.
• If you have an average credit rating then you will be looking for an APR of about 10-19%
• If you have a poor credit rating then you will be looking for an APR of about 19-30+%

Why not apply for a 6% Loan when my credit rating is average?

• Well you are more likely to be declinded and this effects your credit rating in a negative way.

Always read the contract before you sign. If you are not happy with something in the contract discuss it with a member of staff or walk away from the deal.