Does the best personal loan have the lowest interest rate?
- Establishment/upfront fee: You could be charged a fee when you apply for a personal loan to cover the cost of assessing your application and preparing loan documents.
- Service fee: Monthly account keeping fees add up over time. It’s worth calculating the total cost for the life of the loan so you’re not caught by surprise.
- Late payment fee: Your lender may charge a fee if you default on your loan or miss a payment.
- Early repayment fee: Do you hope to pay your personal loan off sooner? Seek out a lender who doesn’t charge an early repayment fee so you’re not penalised for your stellar efforts.
- Other fees: Check out the terms and conditions of your car loan for a full list of fees and charges.
Take your pick
Fixed or variable interest rate?
Fixed Interest Rate
- You know exactly how much your repayments are each month.
- You can plan and budget with certainty, knowing your repayments won’t change.
- You’re protected from future interest rate rises.