AIB Personal loan

[rustbucket]

Hi just looking for an opinion on a personal loan.

Wondering if the interest is right or not.

Have a balance outstanding of a student loan from a few years back about 14K. Was on interst only for a year, now making small capital repayments.

Paying off approx 300 a month. 150 of this agreed with bank. chucking in an extra 150 now also.

Im being charged between 300 and 360 in interest every quarter. Equates to nearly €1200 a year.

Is this right? It seems quite high. I beleive its variable rate loan.

Narratives on line say rate is 10.19%

Cheers

 

[wbbs]

Well a very rough calculation at annual interest on 14k at 10% would be 1,400 p.a. so doesn't sound too far out.

 

[rustbucket]

Yeah thats what I figured. wondering if 10% is the going rate for personal loans at the moment