Taking a loan can help you cover urgent needs, build your business, or support personal goals—but only when it’s done wisely. The key to stress-free borrowing is understanding the terms before you accept the funds.
Here are three critical things you should know:
👉 Interest Rate
This is the cost of borrowing money. A lower rate means less to repay, while higher rates can quickly add up.
Always ask: What’s the monthly or annual interest rate? Is it fixed or flexible?
👉 Repayment Duration
This is how long you have to repay the loan.
Shorter terms may mean higher monthly payments, but less interest overall. Longer terms reduce your monthly burden but may cost more in the long run.
Choose a duration that matches your income and spending capacity.
👉 Total Cost of the Loan
This includes the principal, interest, and any fees. It’s what you’ll repay in full by the end of the loan period.
Know the total, not just what you’re borrowing.
✅ Smart Borrowing = Stress-Free Repayment
At PayCredit, we want you to borrow with confidence—not confusion. Read the fine print, ask questions, and only take what you can comfortably repay.
Remember: A well-informed borrower is a financially empowered one.
