In the interest-only phase, you make smaller payments, usually for a period of three to 10 years, that include only interest.

Choosing between a fixed-rate and variable-rate loan can affect how much you pay over time and how easily you can budget each month. Fixed-rate loans offer predictable monthly payments and protection ...

When you take out a personal loan, your interest payment is generally fixed. This means you’ll have equal monthly payments factoring in the amount of interest you owe on top of the funds you borrow, ...