$10/Day
A loan with a fixed interest rate and fixed loan repayments. Time period varies between 1-5 years. The total length of the loan may be 25 or 30 years, and the fixed rate period may be 3 years.
- Repayments do not rise with official interest rate
- Makes accurate budgeting possible
- At the end of the loan period, you may either get another fixed loan at current market rates or convert to a variable interest rate for its remaining duration.
- Early loan payout is penalised
- Repayments do not fall with official interest rate
- Additional payments are limited.