Lets Compare ABB Personal Loan to a Finance Loan
On January 22, 2021 an inquiry about a personal loan comparison was completed on the same borrower. With this customer it was found ABB could save thousands over the loan term.
This is the results of that comparison.
| TERMS | Finance Company Loan | Anderson Brothers Bank | ABB Advantage Savings |
|---|---|---|---|
| Loan Amount $Check | $7,500.00 | $7,500.00 | Same |
| Term | 60 Months | 60 Months | Same |
| Rate/APR | 35.99%/35.98% | 8.5%/9.5%* | |
| Monthly Payment | $325.57 | $171.86 | $153.71 |
| Finance Charge | $10,612.35 | $2,147.95 | $8,464.40 |
| Amount Financed | $9,011.94 | $8,344.95 | $666.99 |
| Total Payments | $19,624.29 | $10,293.90 | $9,330.39 |
| Total Insurance ADDED | $1,511.94 | $645.95 | $865.99 |
| Monthly Payment WithOUT Insurance | $270.94 | $157.98 | $112.96 |
Who wouldn't like to save $153.00 a month and a combined savings of over $9,000.00?
* Rate as of 1/22/2021, customer in comparison had a 760 credit score.