If you make late loan repayments, you will probably need to pay late payment charges and additional overdue interest, and the late payment records will also impact your credit scores, affecting your interest rates for the loans and loan amount, or even leading to loan rejection. Borrowers should repay the loan on time to avoid additional spending. You should contact your bank or financial institution to discuss other repayment arrangements if you have difficulty in the loan repayment.
Articles in this section
- What are Loans?
- What are the Personal Loans? How are they different from other consumer loans?
- What are the types of Personal Loans Available in Hong Kong?
- Why do I need a Personal Loan? How Much Should I Borrow?
- Why do I need a Personal Loan? How Much Should I Borrow?
- What do I need to make a successful Personal Loan Application?
- How is the Maximum Personal Loan Amount Calculated?
- How should I compute Total Interest Amount?
- How long does it take to process my personal loan applications?
- What do I need to make a successful Personal Loan Application?