Could a juicy headline rate hide what a borrower will really pay? This short introduction sets the scene for people in New Zealand who are considering borrowing. It explains how interest, fees and account charges combine to shape the total cost. Major banks often calculated interest daily and billed it monthly, so small timing differences […]
Tag Archives: Loan terms explained
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Nov
Nov
Could a simple disclosure statement be the difference between manageable repayments and a loan that spirals into unexpected debt? This introduction explains what a disclosure is and why it matters for anyone taking out a loan in New Zealand. It shows how a lender must give clear information before a contract is signed so the […]