Thank you!!
2007-08-07 12:37:09 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
that is depending on what kind of interest rate you wanted 10k for. is it an investment account ( cd, high yield acct, money market -traditional, conservative or aggressive, ira, etc.) is it a loan? personal, credit, short or long term?
remember an interest rate is dependent on the how long you are going to repay it, depending on your credit history, score and debt to income ratio. it does not mean that if you have a high credit score you are going to get approved. if you are looking at interest rates for an investment you have to look at every bank and options with all the banks what will give you a better return on investment. remember the basic knowledge of interest rates are of two kinds, if they say that their interest rate is so.. so... ask them if it is for the annual or monthly rate. annual is clothed by two apy (annual percentage yield) or apr (annual percentage rate) they are practically the same. a lot of financial institutions trick clients that way by trying to beat each other by interest rates, do not be misled because your interest rate is based on your financial profile not what they offer (on lending). all in all, all rates are based on the JWT prime rate and all rates are also depending on the states cost of living ratio, at least with these things i said would give you an idea.
2007-08-07 12:57:40 · answer #1 · answered by netz 3 · 0⤊ 0⤋
If you are talking about savings type (putting 10K into a bank) you can get 5.3% APY at some banks right now (that's not average by far) through CDs (which don't let you get your money out for a certain amount of time).
If you are talking about borrowing type, that very much depends on your credit score and what bank you go through. There is no way to tell without going and asking :)
2007-08-07 12:49:37 · answer #2 · answered by jeebus1486 2 · 0⤊ 0⤋
Citibank has a 5% ultimate money market account.
2007-08-07 12:41:09 · answer #3 · answered by William H 5 · 0⤊ 0⤋
This is a "how long is a piece of string" question.
It depends on what type loan, your creditworthiness, and the lender, for starters.
2007-08-07 12:43:29 · answer #4 · answered by bdancer222 7 · 0⤊ 0⤋
All depends on who's lending you the money.
2007-08-07 12:39:34 · answer #5 · answered by Angie 6 · 0⤊ 0⤋
are you borrowing or investing - Big difference in rates
2007-08-07 13:16:37 · answer #6 · answered by Anonymous · 0⤊ 0⤋
1000%
2007-08-07 17:44:17 · answer #7 · answered by Anonymous · 0⤊ 1⤋