Interest Only Loan
|
|
Interest-only loan - An interest-only loan is a loan in which for a set term the borrower pays only the interest on the Principal balance, with the principal balance unchanged. At the end of the interest only term the borrower may enter a interest-only mortgage, pay ...
Fixed interest - A fixed interest rate loan is a loan where the interest rate doesn't fluctuate during the fixed rate period of the loan. This allows the borrower to accurately predict their future payments.
Loan shark - A loan shark is a person or body that offers illegal unsecured loans at high interest rates to individuals, often backed by blackmail or threats of violence. They provide credit to those who cannot obtain it from more respectable sources, usually because interest rates commensurate with the perceived risk are illegal.
Soft loan - A soft loan is a loan with a below-market rate of interest. This is also known as soft financing.
