Personal Loan Interest Rates

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Rates as of December 5, 2016

Credit Score* Term Interest Rate (Secured) APR** Interest Rate (Unsecured) APR**
700 & Above up to 48 Months 5.50% 5.499% 6.50% 6.50%
700 & Above 49 to 60 Months 6.50% 6.50% 7.50% 7.50%
650-699 up to 60 Months 7.00% 7.00% 9.50% 9.50%
649 & Below up to 48 Months 9.00% 9.00% 11.00% 11.00%

Payment Examples – Secured Loans

Credit Score* Term Amount Monthly Payment Total Loan & Interest
700 & Above 60 $5,000 $97.83 $5,869.80
700 & Above 48 $5,000  $116.28 $5,581.44
650-699 60 $5,000 $99.01 $5,940.60
649 & Below 48 $5,000 $124.43 $5,972.64

Payment Examples – Unsecured Loans

Credit Score* Term Amount Monthly Payment Total Loan & Interest
700 & Above 60 $5,000 $100.19 $6,011.40
700 & Above 48 $5,000  $118.57 $5,691.36
650-699 60 $5,000 $105.01 $6,300.60
649 & Below 48 $5,000 $129.23 $6,203.04

* Credit scores are based on information collected by credit bureaus and information reported each month by your creditors about the balances you owe and the timing of your payments. A credit score is a compilation of all this information converted into a number that helps a lender to determine the likelihood that you will repay the loan on schedule. The credit score is calculated by the credit bureau, not by the lender. Credit scores are calculated by comparing your credit history with millions of other consumers.
**Annual Percentage Rate

  • Loans subject to credit approval
  • Interest rates and programs are subject to change without notice
  • Loans under $2,500 must be kept to a maximum term of 48 months
  • Loans $10,000 and above must be fully secured
  • Interest rates will be discounted 0.25% with Auto Pay from a Chemung Canal checking or savings account
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