What are the top 5 factors that affecting loans interest rates?

Banks and financial institution lent you the money with the cost which is known as interest rates. Basically, the interest rates are the cost of borrowing the loan amount. While applying for a loan, the interest rates are always the first thing to consider.

Different borrowers offer the loan at different rates. The topic of interest rates of loan is increasingly heating up in the loan market. The interest rates charged from the borrower depends upon his credibility and capability. However, it may get affected by certain other factors apart from the borrower’s credentials who are applying for a loan.

You can take a quick look at the numerous factors that the lender consider while deciding the interest rate for you.

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