How does the loan term affect the interest rate?
Unibank
14/04/2023
The main conditions for obtaining the lowest interest rate are a strong credit rating and a official income. Banks offer lower interest rates by assessing the client’s risk profile. The lower the risk level, the more favorable the interest rate offered. When comparing loan offers, it is important to consider not only the nominal interest rate but also effective annual interest rate (EAR), which reflects all associated costs.