Principal
Principal is the amount borrowed before interest and fees.
Interest and fees
Two loans with the same headline rate can have different total costs when fees and compounding differ.
Term
Longer repayment can reduce an individual payment while increasing the number of interest periods.
Read the agreement
Payment timing, variable-rate rules, penalties and collateral terms can materially affect risk.
Educational information only. Use current product terms and the rules that apply in your country. For decisions with significant financial consequences, consider an appropriately qualified professional.