Consolidating federal stafford loans
In the context of college loans in the United States, it refers to a loan on which no interest is accrued while a student remains enrolled in education.
A concessional loan, sometimes called a "soft loan", is granted on terms substantially more generous than market loans either through below-market interest rates, by grace periods or a combination of both.
The credit score of the borrower is a major component in and underwriting and interest rates (APR) of these loans.
The monthly payments of personal loans can be decreased by selecting longer payment terms, but overall interest paid increases as well. S., the average term was about 60 months in 2009 Loans to businesses are similar to the above, but also include commercial mortgages and corporate bonds.
A direct auto loan is where a bank gives the loan directly to a consumer.
An indirect auto loan is where a car dealership acts as an intermediary between the bank or financial institution and the consumer.
These may be available from financial institutions under many different guises or marketing packages: The interest rates applicable to these different forms may vary depending on the lender and the borrower. In the United Kingdom, when applied to individuals, these may come under the Consumer Credit Act 1974.It usually involves granting a loan in order to put the borrower in a position that one can gain advantage over him or her.Where the moneylender is not authorized, they could be considered a loan shark.A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower.In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time.
Loans can also be subcategorized according to whether the debtor is an individual person (consumer) or a business.