by crispin0 | May 30, 2025 | Terminologies
Early repayment occurs when the borrower pays off the loan before the due date. Some lenders offer incentives or discounts for early repayment, while others may charge a prepayment penalty to discourage it.
by crispin0 | May 29, 2025 | Terminologies
An emergency loan is a type of short-term loan designed to cover unexpected expenses, such as medical bills or car repairs. Many online lending apps offer emergency loans with quick approval processes.
by crispin0 | May 28, 2025 | Terminologies
A fast loan is a quick, short-term loan offered through online lending apps. These loans are typically processed and approved within a few hours or days, making them ideal for urgent needs.
by crispin0 | May 27, 2025 | Terminologies
A hard inquiry occurs when a lender checks a borrower’s credit report as part of the loan application process. This inquiry can affect the borrower’s credit score, and multiple hard inquiries within a short time may signal financial instability to potential...
by crispin0 | May 26, 2025 | Terminologies
An installment loan is a type of loan where the borrower repays the loan in equal monthly payments. These loans are common in online lending apps that offer personal loans or cash advances.
