What are bank loan repayment terms in Durban?
Bank loan repayment terms in Durban and elsewhere in the country depend on a number of factors. For example, personal loans or unsecured loans tend to have a higher interest rate than student loans. Additionally, interest rates vary according to the financial provider as well as by the income end employment status of the borrower, together with their credit score. The loan is usually repaid over a period of between 12 to 60 or even up to 72 months, and the best course is usually to pay above the set instalments to minimize the interest charges and cost of the loan.