Interest rate on cash credit loan
Balance Transfer APR: The interest rate you owe on balances transferred from loans or other credit cards to the applicable credit card. For most cards, you begin with a low rate (even 0%) for a If you take cash credit and that is charged at an annual percentage rate of, say, 18%, that doesn’t mean you get charged 18% interest once a year. Depending on how you manage your account, your effective interest rate could be higher, or it could be lower. It could even be 0%. For example, according to a National Credit Union Administration study, the average interest rate for a fixed 36-month unsecured loan from a credit union as of March 2018 was 9.22% versus 10.09% for banks.