Quick takeaway: Use this guide as general information. Product features, prices, eligibility and terms can change, so verify the current details with the relevant provider before acting.
When comparing borrowing options, review the full cost and repayment schedule rather than looking at a single rate in isolation.
Look beyond the headline rate
Check interest, processing fees, documentation charges, insurance requirements and other disclosed costs. The exact calculation and disclosures depend on the product and jurisdiction.
Compare the repayment schedule
Two offers with similar rates can have different total costs if their terms, fees or repayment periods differ. Compare the amount repaid over the full schedule.
Read the current terms
Before accepting an offer, verify eligibility, late-payment consequences, prepayment rules and any other conditions that apply to your specific application.