If you watch any of the financial news stations on television these days, you may hear that the “Fed” rate is 0%, but that certainly doesn’t mean that that is the interest rate you will pay! The Fed rate really bears no relation to what a personal loan rate would be, other than when it is high, so is your rate.

When times are tough like they are right now, it is a good time to borrow money. Interest rates are lower and you can borrow more money for a longer period of time for less money. The bad news is that if you are lucky enough to have any money in the bank or in investments, then you are making less money than you would during good times.
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