A loan is a financial transaction between two parties - the lender and the borrower - in which the lender gives the borrower an amount of money that must be paid back in full. The terms of the transaction are usually governed by a loan agreement which specifies, amongst others, the loan amount (also known as the principal amount), interest rate, loan tenure, drawdown terms, repayment dates (i.e. periodic instalment dates for amortizing loans) and any other fees e.g. administrative fees, prepayment fees or late charges.
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?