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Bank of America Personal Loan Rates

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Bank of America is the largest bank in the United States of America. It has its branches almost all over the country. It is one of the most successful and the most preferred banks of US. This is because of the wide variety of products and services offered by the BofA. The bank also offers personal loans in order to fulfill all your other expenses. Although, the Bank of America personal loan rates are higher than the other loans, they are available to suit any of your requirements. Personal loans are availed for a number of purposes such as, wedding related requirements, financing medical bills or health care, improving, renovating or furnishing your house, planning out a vacation, buying a vehicle of your choice and so on.

Bank of America Personal Loan Interest Rate

Bank of America personal loan is basically a loan which is unsecured and does not require any equity of your property for collateral reasons. BofA allows you to borrow a maximum of $50,000 and the Bank of America personal loan interest rates are charged at 8.99%. The rate mentioned here are starting rates and it varies on the loan amount. The rates increases as the amount and decreases accordingly. The bank does not charge anything extra as additional fees or pre-payment charges. It gives you an option of repaying a lump sum amount

at one go without any additional charges.

Bank of America personal loan rates can also be found out by visiting their official website. You can also fill up an application form online after going through their interest rates. Once the bank receives your application form it will verify the same and get in touch with you to explain you the interest rate as soon as possible. It is a bit difficult to get this loan. Customers with a bad credit history are not eligible for BofA personal loan. The verification process is mandatory as it is a federal law requirement. Once the application is accepted the bank personal loan officials would intimate about the loan status.

Bank of America personal calculator is a very useful and an important tool given by the bank. With the help of this calculator you can calculate the rate of interest charged on your loan amount and the number of repayment years.

If you feel, that the amount shown in the calculator is too high, you can either decrease the loan amount, increase the loan tenure or increase the interest rate and re-calculate the amount. The amount flashes on your computer screen within a fraction of a second. You can also compare various amounts and choose the best rate suiting your budget and needs. .

Category: Bank

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