What Does Inflation Indexed Credit Mean?

People who want to get credit often have problems because of the increasing interest rates. However, the CPI index published by the Bank in Turkey is taken into consideration in determining the interest rate on inflation-indexed loans. Accordingly, the calculation is made as Inflation Rate (CPI) + Margin Rate determined by the Bank, which provides advantages to consumers in need of cash.

The characteristics of the inflation-indexed loan are as follows:

cheap loan

  • Up to 80% of the housing loan can be obtained in housing loans.
  • The maturity of the loan can be up to 120 months.
  • Creditors will not pay extra fees if they want to close the debt early or make interim payments.
  • The borrower will have the right to switch to a fixed-rate loan product at any time.
  • When it comes to housing loans, consumers will be able to buy zero or second-hand housing.
  • The credit interest rate will be periodically updated according to the inflation rate (CPI) in 6 or 12-month forms to be selected during the usage phase of consumers.

How Does Interest Rate Change in Inflation-Indexed Loans Change?

Loans

The interest rate on these loans is determined periodically by the Central Bank of Turkey in 6-month or 12-month periods. The value taken into consideration when determining interest rates is Inflation Rate (CPI). Accordingly, changes in the inflation rate affect interest rates. However, consumers can switch to fixed-rate products at any time.

What are the advantages of inflation-indexed loans?

What are the advantages of inflation-indexed loans?

Although most consumers wish to take advantage of inflation-indexed loans, they are not aware of the advantages of this product. Accordingly, it is possible to explain the advantages of using credit due to inflation as follows:

• Consumers will be able to switch to fixed interest loans at any time during the repayment period.
• The interest rate to be applied will not exceed the maximum interest rate stated in the loan agreement and there will be a ceiling interest rate application that protects the consumer.
• Interest rates will be automatically updated according to the 6 or 12-month periods chosen by the consumer and all information will be communicated to the customer via e-mail.
• With this type of credit, consumers will be able to pay lower interest rates during periods of inflation.

How to get a debt consolidation loan with bad credit?

If your Wiba If your credit rating is below 580, it could be difficult to manage your finances with debt consolidation. But if you have a “just” credit or better and if you can be approved for a debt consolidation loan, this can be a simple way to reduce your monthly payments, reduce the number of creditors you owe and reduce the repayment period of your debt. .

Debt consolidation is a method of getting a new loan to repay the high interest rate debt in order to streamline monthly payments and save money over time. People usually use personal loans, low-interest credit card balance transfers or debt management plans to consolidate their debt.

Debt consolidation with zero or medium credit

Debt consolidation with zero or medium credit

The Wiba Goal, which ranges from 300 to 850, is the most widely used credit scoring model for lenders to assess a borrower’s creditworthiness. It has several ranges. Credit scores above 670 are considered good, very good or exceptional depending on the score. An “acceptable” score ranges from 580 to 669 and any score below 579 is considered “poor”. Knowing your credit score is important in determining your options, but even with less than perfect credit, there are still ways to consolidate your debt.

Debt consolidation with a personal loan

Debt consolidation with a personal loan

Although debt consolidation options are available for people with “poor” scores, they often have high interest rates that may be higher than those of your current loans.

A good option would be to consult online lenders like Upstart, a personal loan partner of Experian. Upstart examines other data, beyond credit reports and scores, to determine if a person qualifies for a loan. Factors such as employment history, income and education determine whether a candidate qualifies for a loan and a lower rate.

APR : 6.00 – 29.99% depending on the financial profile
Term : 36, 60 months

Upstart offers loans of up to 50,000 euros that can be used to pay credit cards and consolidate other types of debt. Upstart has an easy application process and taking out a loan will not affect the credit scores of the applicants.

What are the benefits of a debt consolidation loan?

What are the benefits of a debt consolidation loan?

One of the main advantages of a debt consolidation loan is eliminating the task of paying several lenders each month. When you consolidate all your existing debts into a new loan, you just need to make payments to your new lender. Making a single payment is not only easier, but can also help you avoid late or missed payments, which can happen when you manage multiple different payments each month.

Payment history is the most important factor in calculating your credit score, accounting for 35% of your Wiba. Score – and it is important to avoid paying loan payments beyond their due date. Late payments can easily occur when someone makes multiple loan payments each month and does not use the automatic payment feature. Another benefit of a debt consolidation loan is the reduction in the amount of interest you pay on your outstanding debt. People usually use debt consolidation loans to pay off their high-interest debt, such as credit card debt, whose interest rates can range from 18 to 25 percent. In most cases, a debt consolidation loan will have a much lower interest rate depending on your creditworthiness, which will save you money on interest throughout the life of your loan .

Imagine that you have a credit card debt of 5,000 € with a APR of about 25%. Over 36 months, the monthly payment of the debt would be about 240 € and you would pay a total of 2,500 € of interest. If you were consolidating this debt into a new loan with an average APR of 17% over 36 months, the total amount you pay in interest would decrease to about $ 1,700 and your monthly payment to $ 200. In this scenario, the lower the APR of your new loan, the less interest you will pay over time.

How can I qualify for a debt consolidation loan

How can I qualify for a debt consolidation loan

Depending on your credit range, taking out a debt consolidation loan might not be the best idea. If your credit score is “poor,” it can be difficult to get approval for a debt consolidation loan. Lenders often consider that people with “poor” credit levels are risky and, therefore, can not give a new loan to a person of that nature.

Another potential problem with getting a debt consolidation loan with a “mediocre” credit score is that the interest rate on your new loan may, in some cases, be higher than the APR of your loan. existing debt. Lenders often use your credit worthiness to establish the interest rate you get. As a result, people with “poor” or even “fair” credit ratings should be careful not to take on new, higher-rate loans.

Debt Consolidation Loan Options for the Military

Debt Consolidation Loan Options for the Military

It can sometimes be more difficult for members of the military to obtain new credit from conventional lenders. When spending long periods away from home without having to borrow and use revolving lines of credit, the military often has a lower credit history.

As a result, there are specialized private lenders that serve exclusively the military. Through these lending institutions, the military can apply for auto loans, mortgages and even personal loans that can be used for debt consolidation.

Obtaining a personal loan from a military lender is an option for military members trying to consolidate their existing debt. Military lenders consider claimants with a lower score but can still find people with a seriously compromised credit history risky.

April: 11.99 – APR 35.95% consistent with military loans Law
Term : 36, 48 months

Pioneer Services is a military lender that only works with current and former members of the military. They offer loans to military candidates with bad credit and use non-credit records and assess their creditworthiness.

Alternatives to debt consolidation

Alternatives to debt consolidation

While consolidating your debts may seem like the best way to reduce your monthly payments or eliminate the worry of paying multiple bills each month, other debt management tactics may be a better option.

  • Debt management plans

    Before considering a loan application, one of the options is to use a debt management plan to consolidate your monthly payments. With a plan like this one, you first need to find a credit counselor and work with them to formulate and adhere to a repayment plan. Once you and your advisor agree on a plan, they will often try to negotiate with your creditors to find out if they can get a lower monthly payment and sometimes a lower interest rate.

    In this scenario, once the advisor has finished negotiating, you pay his or her organization directly every month and he makes all your monthly debt payments for you.

    A debt management plan can be a good alternative for people with a “poor” credit rating and can not be approved for a debt consolidation loan.

  • Using the credit card

    Responsible use of credit cards can help you not to accumulate too much debt and not be late in paying. Knowing how to pay off a credit card debt can be extremely helpful and help you save money over time.

  • Create a budget

    Budgeting and tracking your expenses is a critical step in understanding how much you can afford to pay each month to cover your existing debt. Once the budget is in place, you can reserve a fixed amount for the repayment of your debts and reach your goal of repayment of your loans.

  • Bankruptcy

    If you are overwhelmed by debt and do not see any way to repay it, bankruptcy can help you find relief. However, the bankruptcy statement will remain in your credit record for seven to ten years and could affect your ability to obtain other loans in the future.

If you think that debt consolidation can help you, but you are unsure of your credit score, Experian’s Credit TM tool can help you find a personal loan based on your Wiba Purpose.

Personal loan calculator

The information provided is for educational purposes only and should not be construed as financial advice. Experian can not guarantee the accuracy of the results provided. These results, based on the information you have provided, represent an estimate and you should consult your own financial advisor to find out about your particular needs.

Try the personal loan calculator complete with more features.

Do you want to instantly increase your credit score? Experian Boost ™ helps you by crediting you with the utility and mobile phone bills you already pay. Until now, these payments did not have a positive impact on your score.

This service is completely free and can quickly increase your credit score using your own positive payment history. It can also help people with poor or limited credit status. Other services, such as credit repair, can cost you thousands of dollars and only allow you to remove inaccuracies in your credit report.

Editorial Disclaimer : The opinions expressed herein are those of the author, not those of a bank, credit card issuer or other company, and have not been reviewed, approved or otherwise approved by one of these entities. All information, including rates and fees, is accurate as of the date of publication.

Loan for Free Market Vendors and Paid Market

Loan for Free Market Vendors

Loan for Free Market Vendors

Loan for Free Market Vendors – Free Market is in a phase of innovation on its platform, it will begin to make personal loans, releasing money to registered and active sellers in its product sales platform online.

The amounts of the loans provided by the Free Market must vary from R $ 5 thousand to R $ 350 thousand to finance the working capital of the sellers. These values ​​were released on Tuesday the 30th, by the company itself and also by the mass media.

Loan for ML Sellers

Loan for ML Sellers

According to information from the Free Market communication, the amounts borrowed can be paid in up to 12 months. The refund will be automatically debited from the sellers account alongside the platform. Interest will be applied up to 3.1% per month. The loan to the micro and entrepreneurs of the Free Market can only be possible thanks to the partnerships with the Lopesu Bank and the financial Money Plus.

For now, only that has a history of sales with more than six months on the platform can request the loan for sellers. Approval and release is subject to credit analysis at Serasa and SPC and other external protection agencies.

What is the credit offer for sellers?

Mercado Livre, which brings together product announcements for sale on the Internet, launched on Tuesday (30) offer of credit to sellers of the site and who use the card machines of the group, reinforcing its capacity to generate business at a time when the rivalry in the sector grows and the economy returns to advance.

The company, through the payment unit Market Pole, began testing the product six months ago in Brazil, after launching the offer of credit to sellers in Argentina and Mexico last year. The goal, in addition to attracting sellers, is to give credit to their buyers in the coming months as well.

Loan with the Market Pole

During the tests in Brazil the “Free Market Loan” made a credit offer that attracted 18 thousand customers, who took out R $ 250 million in loans, the executive said. The volume of customers is more than half of the 25,000 customers that have contracted loans with the Market Pole where the service was launched, said Martin de los Santos, senior vice president of Latin American Credit Market.

The loan offer has a partnership in Brazil with Lopesu Bank, in Rio Grande do Sul, and with MoneLoan. In addition to the partnership in the granting of loans, Mercado Livre set up a fund to raise funds for the business, Oliveira said. According to Santos, so far the average default rate of operations in the region is 2%.

The launch of the loan product comes a few days after PureSepo made the largest IPO of a Brazilian company since April 2013, moving around US $ 2.3 billion. Another Brazilian payment processor, Stone, also plans an IPO in the coming months, sources told Reuters this month.

Diversification Free market

Free Market has diversified operations in recent months, offering free freight, partnering with bookstores such as Saraiva and Cultura and also testing tools for selling vehicles through the site, which may also involve the granting of loans and loans to sellers and buyers.

How to get an unemployed title loan

 

Sometimes financial difficulties can cause us to need money quickly. In these situations, using a traditional lender can often be frustrating, especially if you are currently unemployed. You can lose the time of a refusal on the part of traditional lenders or get approval for a loan. Loan car title loan today with Loan Leone. Traditional lenders such as banks and lenders associations always want at least the following:

  • Warranty: Most traditional lenders require you to submit proof of warranty, such as a car, boat, title deed or other evidence of value. They do this in order to be assured that they will be paid if you are unable to repay the loan.
  • Proof of Income: Traditional lenders generally require proof of income before lending you money. They must have a way to protect their investment (their loan granted to you) in case you can not pay them at the end of the loan or make monthly payments. They also need this evidence because they want to compare it to your credit rating to determine their income / debt ratio. This is one of the main factors to consider when deciding whether or not to assume a financial risk.
  • Co-signers (sometimes): If your credit rating is not high enough, the bank may ask you for a co-signer with better credit. Thus, they can get the money owed to them by the co-signer of the second part, in case you can not pay. This puts the co-signer in a state of financial responsibility if you can not repay the loan.
  • Solvency: Your credit rating and debt ratio are the main factors that traditional banks use to determine whether or not they can lend you. If you are very young and do not have a credit rating yet, or if your credit rating is bad, the transaction will be canceled. They must believe that you can pay your bills or they will not lend you money.

For those who have had credit problems in the past or who have not had the time to acquire a good credit rating, this can be a barrier to getting the money you need. In these difficult times, you may need to look for other options. In addition, going through traditional channels can be time consuming. When you need money fast, you do not have time to wait. So what can you do in these circumstances when a bank has refused you?

Securities Lending: Another Option for Securing an Unemployed Loan

Securities Lending: Another Option for Securing an Unemployed Loan

Do you own your car and do you have proof of ownership? One way to make money fast is to get a loan title. If you’ve never done it before, know that it’s not a difficult process. Title loans are loans that you get for the value of your car. You do not have to get a co-signer or have your credit rating checked to see if you have good credit. But can you get an unemployed title loan?

Answer: Yes, you can get a car title loan without income

Answer: Yes, you can get a car title loan without income

The good news is that you can get an unemployed loan title or even a proof of income! This is one of the advantages of this option. The only thing they need is your title (proof that you own your car). Your car is your own warranty and, unlike other more traditional institutions, you can get your loan in a few hours in most cases. Consider starting a loan process that only takes a few hours to complete, as opposed to a bank loan that may take days or weeks to approve.

Requirements for an unemployed car title loan

Requirements for an unemployed car title loan

There are very few conditions for obtaining a car title loan. The main factors they are looking for are listed below:

  • Be 18 years old or older
  • Must provide a copy of a valid government issued ID
  • No link on the vehicle
  • Must own the vehicle directly
  • Must have the original title of the vehicle

Get an unemployed online title loan

Get an unemployed online title loan

If there is not a credible title loan company in your city or if you prefer to get a title loan online, it is very possible to do so if you choose the right source. This can be confusing however, with so many title loan professionals offering various offers. In addition, in many cases, you have to pay fees to third-party partners, which can sometimes be complicated and expensive. Fees vary, but can range from € 25 to € 100 or more for treatment.

About Leone Title Loan Loans Without Income

About Leone Title Loan Loans Without Income

As our name suggests, our securities lending experts receive your money quickly and the application is completely free. We give you prime securities loans that are twice as fast as other lenders. They know that you must have your money as quickly as possible to be able to continue your life, pay your bills and even have a little fun. Who has time to wait? Loan Leone longs for speed and efficiency, just like the cat that bears our name. Thus, you will be assured that once you have applied for a car title loan from our company, you will soon be operational!

Quick cash solution

Self-titling loans are a quick fix when your cash flow is insufficient to pay unpaid bills, such as medical bills, mortgage payments or other obligations. It is an emergency loan that covers the unexpected small necessities of life. You can get a car title loan without income because, unlike banks, the title loan company uses the value of your car as collateral. This guarantees the bank that they will be refunded with your payment or car.

Simple and easy

The best thing about car title loans is that it is a simple and easy process without the conditions attached. Car securities loans are short-term and not long-term. Interest rates may be higher than normal, but the loan is also faster. So think of a car title loan as a short-term loan for quick cash emergencies and not a long-term loan that you will pay back over time.

Car Title Loan Limits

As long as you provide the necessary documents and references, proof of ownership of your car and your identity, you can get a car title loan with no income for the expenses you have incurred and for which you need money. If you need an untitled loan, you can do something to get a loan fast.

Leone Loan allows you to register for free for a car title loan. We are experts in auto securities lending and can answer your questions about the process. If you’re ready to start now, scroll to the bottom of the page to start right away. You can get a free car title loan estimate online.

How long does it take?

Some people worry that the process of obtaining an automatic title loan is too long. But the process usually takes only about an hour in most cases. Some lenders may limit your loan to a minimum of 1,000 euros, but some lend more than 35,000 euros, depending on the circumstances at the time of application.

Peace of mind

Peace of mind is important for financial matters. Loan Leone does it and we work hard to ensure that all your personal and financial affairs are handled with the utmost skill.

Leone loan

If you need money quickly and own your car, you should contact Loan Leone today to find out how fast we can get you the money you need. Getting a car title loan is not difficult if you call the right people first. Fill out the online form now for a free estimate and see how quickly we can go to your help. You will soon see why we call ourselves Loan Leone.

Personal Loan Calculator – The Calculator Site

Use these personal loan repayment calculators to calculate monthly repayment and interest amounts for personal loans, student loans or any other type of credit agreement. The first calculator breaks down the monthly repayments for a secured loan or not. The second helps you calculate the repayment term of the loan.

Although every effort has been made to construct these loan repayment calculators, we can not be held liable for any special, incidental, consequential or consequential damages or material damage. Pecuniary losses of any kind resulting from or relating to the use of calculator tools and information derived from the website. These tools are here only as a service, please use them at your own risk.

The calculations provided by the loan payment calculators are just a guide. Please consult an independent financial advisor for professional advice.
Read the complete denial.

Calculation of personal loans

Calculation of personal loans

Nowadays, we seem to be bombarded by ads offering personal loans, and instant credit seems to have never been so easy and accessible. Personal loans give you the opportunity to get them initial lump sum and then gradually return it to the lender. Of course, there are different types of loans and they all have a different degree of risk compared to a variable remuneration interest rate.

The most common reasons for taking out a personal loan in 2019 are:

  • Debt consolidation
  • Pay for a dream wedding
  • Pay medical bills
  • Refund credit cards
  • Financing renovations
  • Financing a new car
  • Pay funeral expenses (more and more common!)
  • Finance a dream vacation

Why use this personal loan calculator?

Why use this personal loan calculator?

Whatever your reason for borrowing, our personal loan calculator is there to help you calculate examples of monthly repayments you may have to do. By providing you with a guide to possible loan repayment figures, you will then feel better informed when you assess the risk and benefits. To take a personal loan. You will also find in US News a very useful article dealing with different types of loans and loans.
to find the best hotel deals and best rates for 2019

How to calculate a personal loan

How to calculate a personal loan

To begin your calculation, enter the amount you expect to borrow, along with the annual interest rate and the number of months you plan to borrow, borrow money for. If you wish, you can change the start date of the loan and include any additional deposits you make at the beginning, as well as any additional fees.
lump sum payments. Once you click on the “calculate” button, the personal loan calculator will show you:

  • Your regular monthly payment
  • The total interest you will pay
  • The total amount of your loan repayment
  • Your estimated payment date

You will also see charts and a monthly repayment schedule of your principal and personal loan interest payments. If you want to calculate the amount of unfunded loans, indicate the simple interest calculator to try.

FAQ on the personal loan calculator

FAQ on the personal loan calculator

Here are some common questions you have asked about our calculator:

What is the effective annual rate?

The effective annual rate is the annual interest rate you pay on a loan, taking into account the effect of capitalization. This loan calculator composes interest on a monthly basis (the compound interest calculator has several options for composition).

What is a balloon payment?

A lump sum payment is a large lump sum payment made at the end of a long-term loan. It is commonly used in auto finance loans to reduce monthly repayment figures. You can find more information about balloon payments in our article What is a balloon payment?

What is the APR?

APR stands for annual percentage rate and is an important factor in determining the overall cost of a personal loan. You can use APR to compare different loan offers. When you take out a loan with a finance company, its offer may include additional fees associated with the loan. The APR figure takes this information into account and gives you a simple percentage for you to compare and compare prices.

Why are loan repayment interest different from APR?

The pie chart presented with the results of your personal loan calculator displays the total interest as a percentage of the total amount repaid. The APR or annual effective rate represents the annual rate interest rate.

Borrowed Money, Credit Banks and Loans?

Money lent, banks, loans ??? What is it???

Money lent, banks, loans ??? What is it???

From the earliest times until today man still does what the monkey did, says a song of the Titans, analyzing well is a half truth, since in the times of the cavemen, because there is not even mention of what could be money, these men used commodities as the basis of exchange among themselves, these exchanges were known as “barter.”

Let’s take an example to make it easier to understand: a person who planted bananas traded bananas for something that someone else had produced that was in their best interest.

As time went by, the exchange of goods among the peoples grew too much, and later men began to make use of precious material called gold and silver as a means of facilitating trade in general. But being of metal, gold and silver were not easy, much less practical to carry from one side to the other.

” Banks are intermediate institutions between surplus agents and deficit agents, who, in addition to others, exercise the function of capturing surplus funds and lending them to the deficient, generating the margin of profit denominated bank spread. Every bank, public or private, has these characteristics. Banks also have the function of depositing capital in forms of savings, financing cars and houses, exchanging international currencies, making payments, among others, “according to Wikipedia.

The Evolution of Banks

The Evolution of Banks

To facilitate transportation they created the first coins, made of pieces of gold or silver, on which the weight and its value were marked. One can imagine the person walking with one, two, three kilos of gold in coins, besides being very dangerous to walk carrying such metal up and down, at that time also had thieves, especially on the roads, to get an idea remember those old Western movies that you’ve definitely watched. For safety, some merchants decided to keep it in a place where they knew how to take care of gold: the goldsmith himself.

With this practice, the goldsmith had to provide the merchant in exchange for the coins that were stored, a receipt stating the value of the deposit. Of possession of the receipt the merchant negotiated goods directly with him, because everyone knew that the receipt represented the gold or silver kept with some goldsmith.

People of the time as time went on, they gained more confidence in the receipt and began to use it more in their negotiations and business transactions. Here we already see the creation of paper money, which we know until now as money, money, dindin, bufunfa, makes me laugh etc.

Then you may also realize that the Goldsmith was who gave birth to the idea of ​​a bank we know today.

What is an online finance simulator?.

What is an online finance simulator?.

What is an online finance simulator?.

An online loan simulator is in other words a “calculator” so as to obtain an online quote in a few clicks. This type of simulator is available for a car loan, a personal loan, motorcycle loan, or a mortgage loan.

It is simply a matter of filling in the amount you would like to borrow, then filling in the number of monthly payments you want to make the repayment. Depending on the APR * (rate) of the bank you have chosen, the calculation of the monthly payment will be done and so you can know how much you have to repay per month for an amount to borrow.

The borrower will no longer have to move to his bank to apply for a loan. He can also think about the arguments he will present to receive confirmation of his work or projects.

Nevertheless, the interviews concerning the latter remain important and necessary for its finalization. To sum up, if you borrow, all you have to do is fill out and calculate the simulation of your online loan. Then, just wait until you are contacted to discuss it: it is very convenient for your travels and your daily steps.

Difference between installment loan & personal loan?.

Difference between installment loan & personal loan?.

“Installment Loan” and “Personal Loan” refer to the same thing, they are very common consumer credits. The term personal loan is the most commonly used and means that you do not have to justify the use of the amount requested. The only thing is that the bank will check (like any loan) your ability to repay but rest assured, these checks are not as pushy as a mortgage. Generally, it is a fixed monthly payment and the sum requested arrives a few days after the online application.

The different personal loans available in Belgium?.

The different personal loans available in Belgium?.

There are many other loans in Belgium that can help you in your daily life or in the realization of your projects and ideas. For example :

  • the wedding loan
  • the holiday loan
  • the study loan
  • or any type of loan for electronic object (tv, etc..).

Insurance for your personal loan?.

Insurance for your personal loan?.

An installment loan may be covered by insurance.

It is for example possible to guarantee the assumption of your monthly payments in case of loss of employment or in case of temporary incapacity.

But also the total repayment of your credit in case of total disability, disability or death.

Think about it when applying for your loan, insurance is far from useless today.

If I can not repay my personal loan?

If I can not repay my personal loan?

It can happen to have financial worries, unforeseen events that would disrupt a loan in progress.

If, for example, you have several credits in progress, you can think about the grouping of credits that can greatly help you.

This “help” often makes it possible to reduce the total amount of monthly payments to be repaid.

A payment facility can also be requested from the bank where you purchased the personal loan.

For more serious situations involving multiple lenders, you could resort to debt mediation or group debt settlement.

Difference between personal loan & “fast” loan?

Difference between personal loan & "fast" loan?

Not to be confused, a so-called “fast credit” is actually a cash reserve that works like a credit card, a line of credit. It is called fast credit because in a few minutes you can withdraw the amount you need.
A line of credit is not a loan, there are interests too, but the repayment must be done more quickly than with a personal loan.

Difference between personal loan & “fast” loan?

Difference between personal loan & "fast" loan?

Not to be confused, a so-called “fast credit” is actually a cash reserve that works like a credit card, a line of credit. It is called fast credit because in a few minutes you can withdraw the amount you need.
A line of credit is not a loan, there are interests too, but the repayment must be done more quickly than with a personal loan.