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Sep 28, 2017 - 34 minute read

Difference between apr and interest rate on personal loan

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Difference between apr and interest rate on personal loan

Lenders are allowed to boast of low representative rates if those rates are charged to 51 of successful applicants, which means almost half could be charged a higher rate. Early repayment. You can pay off your debt before the end of the loan term if you come into some cash. But watch out for early repayment fees.

Many lenders levy a penalty for early repayment, which could wipe out any potential interest savings. Some lenders also charge arrangement fees for personal loans, which you should factor into your cost calculations.

Difference between apr and interest rate on personal loan

8 APR, Annual interest rate (fixed) 46. Terms and conditions apply. Subject to change without notice. UK residents aged 18 to 79 years. Simple Online Form Fast Access to Funds. Start Now and Get Results Fast.

Difference between apr and interest rate on personal loan
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