The major loan kinds of loans are auto loans, mortgages, figuratively speaking, bank card loans, payday loans, and loans from pawnshops and payday lenders. Each category has an alternative typical interest rate charged every year for borrowing cash, but among those certainly is the most absurdly costly, poverty trap creating weapon of mass financial destruction.
Loans utilized to purchase real assets like vehicles or houses typically carry reduced interest levels. Then is figuratively speaking due to government involvement. Continue reading