Payday Loan Debt Cycle and ways to avoid it
Payday loans are short-term, high-interest loans used to pay for your costs up until your next paycheck. By issuing loans with exorbitant interest rates, payday lenders are able to boost their earnings, but many consumers are unable to repay them. Due to this cycle of increasing borrowing each pay period and increasing costs to pay […]
How to Avoid paying Interest on Credit Cards
Credit card loans may be harmful, particularly for new users and those who have fallen victim to them. What seems to be free money is actually a pricey business. If you want to acquire a credit card or already have one, you should be aware of its uses and risks. It’s all fine when credit […]
Flat or Reducing Balance Rate which is better
In simple terms, when you take out a loan for a set period of time, you must repay both the principal and the interest within that time frame. Aside from the loan rate, you must understand how the bank will calculate interest on your mortgage. The two most common methods for calculating interest on loans […]
Flat Interest Rate vs. Reducing Balance Rate
We’re discussing how banks and other financial organisations compute a loan’s interest rate. In a murky scenario like this, when no bank person would give you the exact interest rates and other details, it’s even more critical to know how to calculate this in advance. In basic terms, when you take out a loan for […]
Why should you apply for a Personal Loan before Interest Rates go up?
The target interest rate ranges were raised to 0.25 percent – 0.5 percent during a meeting of the Federal Reserve Committee on March 16, 2022. The decision was taken in response to rising inflation fears, with the goal of lowering the rate to 2% in the long run. Interest rates across the board are influenced […]