How to Compare Personal Loan Offers

A useful loan comparison looks beyond the advertised rate.

Compare:

1. APR
2. Origination fees
3. Monthly payment
4. Repayment term
5. Total repayment
6. Net proceeds
7. Late-payment and prepayment rules

A lower monthly payment can simply mean a longer repayment period.

For a deeper explanation of borrowing costs, see EasyLoanWorld.

Related notes:

• apr-vs-interest-rate
• Loan Affordability Budget
• Debt Consolidation