These are often very short and funds may arrive at your bank account as soon as the next business day, but if you want an instant transfer it is always best that you discuss this with your lender

• Interest Rates

The interest rate defines the cost of the loan. Besides paying back the principal, your loan also includes a certain interest that has to be paid to the lender. Interest rates vary from one lender to another but are mostly higher than rates calculated by banks and other traditional financial institutions. When considering a loan offer, you should always make sure that the interest rate is reasonable and affordable for you to repay.

These are often very short and funds may arrive at your bank account as soon as the next business day, but if you want an instant transfer it is always best that you discuss this with your lender

• Late Payment Fees

Late payment fees are charges you need to pay if you fail to make a payment by the agreed due date.Continue reading→