Knowing key terms helps avoid confusion, stress, and unexpected charges.
Knowing key terms helps avoid confusion, stress, and unexpected charges.
The actual amount borrowed, before any interest is added.
The actual amount borrowed, before any interest is added.
What Principal Means
What Principal Means
The cost charged by lenders for using borrowed money.
The cost charged by lenders for using borrowed money.
Interest Rates
Interest Rates
The total time given to repay the loan fully.
The total time given to repay the loan fully.
Loan Tenure
Loan Tenure
Your fixed monthly payment covering interest and loan balance.
Your fixed monthly payment covering interest and loan balance.
Equated Monthly Instalment (EMI)
Equated Monthly Instalment (EMI)
Annual Percentage Rate is total yearly loan cost including interest and additional fees.
Annual Percentage Rate is total yearly loan cost including interest and additional fees.
What APR is?
What APR is?
Processing, late payment, and early repayment charges may apply.
Processing, late payment, and early repayment charges may apply.
Fees You Should Know
Fees You Should Know
BasicsAssets or upfront payments that support loan approval
BasicsAssets or upfront payments that support loan approval
Collateral and Down Payment
Collateral and Down Payment
Funds release and percentage of asset value financed.
Funds release and percentage of asset value financed.
Loan Disbursement and Loan-To-Value
Loan Disbursement and Loan-To-Value
Full repayment before tenure ends is called foreclosure.
Full repayment before tenure ends is called foreclosure.
Closing a Loan Early
Closing a Loan Early
Disclaimer The information provided on this website is for general informational purposes only and should not be considered financial or legal advice. Please consult with a qualified financial advisor before making any decisions.