The loan is then repaid with
interest over a certain amount of time, called the life of the loan.
Not exact matches
Similar to a credit card, PayPal Credit allows you to avoid
interest altogether if you make payments in full within a
certain amount of time on purchases
of a minimum size, or you can make payments
over a longer period
of time while accumulating
interest.
Allocation to these subaccounts are generally credited with an
amount of interest based on the growth
of the relevant index
over a
certain period
of time, often called the index period, using two methods used to determine the crediting rate:
Conventional Adjustable Rate Mortgages are set for a
certain amount of time, but the
interest rate changes
over the lifetime
of the loan.
The underwriter uses the borrower's liquid assets to show that
over a specified
amount of time and at a
certain interest rate, the liquid assets are capable
of producing income for the borrower.
With a home equity loan you borrow a set sum
of money at one
time and it is paid back
over a
certain amount of years and
interest rate that can vary greatly.
A home equity line
of credit (HELOC) is a revolving credit line
of credit usually with an adjustable
interest rate which allows you to borrow up to a
certain amount over a period
of time.