A flexible loan is similar as standard credit card packages, this loan is provided for those want to borrow money but not sure how much they really want. For instance, someone get this loan to repair his car, home improvement and miscellaneous expenses. The amount incurred is hard to estimate. Besides that, you are free to choose your repayment pattern and the rates you are preferable with.
This loan is not common at the moment, but it might be popular in near future. The loan can be come in 2 forms, which is fixed rate option and interest flexible option.
Fixed rate option
This option allow borrower to borrow loan amount from $1000 to $25,000. The interest rate is fixed and included finance fees, borrower can select comfortable payment term to repay back the money. Normally the term is within 1 to 7 years.
Flexible interest rate option
Amount borrow can be little or big, there is no rigid rules to limit borrower. The interest rate will be increase according to the market rate , the payment term is vary among lenders. For small amount the term will be shorter, while for big amount the term might be several years.
While using this loan type, you must be discipline. Do not use the money for unnecessary reasons such traveling, buying stuffs, party and etc. After all you are the one who going to make all repayment back to lender. Use this loan inappropriately will bring a great negative impact to your financial situation.
If you interested in this loan, please do some research to study the particular information about the loan. Almost all relevant information can be found online.
For other loans information, please check out Various Loans Guide instead of Flexible Loan
Return to Loan-God Home Page
Return to top of the page