FAQs about Personal Loans

We have divided all frequently asked questions about personal loans and payday loans into 4 categories. Part 1 contains general information about unsecured loans. Part 2 explains how the application process goes. Part 3 have information about repayment of loans, and Part 4 describes the loan costs associated with personal loans. If you still have any questions, feel free to send us an e-mail (see bottom of the page).

About Personal Loans
  1. What is a personal loan?
  2. What advantages do personal loans have?
  3. What can I spend my loan on?
  4. How much money can I borrow?
  5. What are the requirements to get a personal loan?
  6. Are personal loans serial loans or annuity loans?
  7. What is the maximum loan period?

Application Process
  1. How do I apply for a personal loan?
  2. What happens after I have applied for a loan?
  3. What documentation must include in the application?
  4. How long time does it take to get a loan?
  5. When is the money transferred to my account?
  6. What does it cost to apply for personal loans?
  7. When can I apply for personal loans?
  8. What is a credit score model?
  9. What happens if my application is rejected?
  10. How can I improve my credit score?

Repayment of Loans
  1. How do I repay my loan?
  2. When do I have to pay interests and installments?
  3. Can I pay back my loan faster than planned?
  4. How do I pay back extra on the loan?
  5. Is it possible to pay only interests in the beginning?
  6. What happens if I can’t repay the loan on time?

Loan Costs
  1. What are the total costs of the loan?
  2. Do personal loans have fixed or floating interest rate?
  3. What is the difference between the nominal and the effective interest rate?
  4. Why is the interest rate higher on personal loans than mortgages and car loans?