How a loan will be repaid is a key consideration to make when assessing loan options.
It is rare that a loan will need to be repaid in one lump sum, although it will depend on the terms of the loan agreement. It is more common for a loan to be repaid in instalments over a pre-determined period, though a lender may ask for a lump sum if payments are missed and a loan falls into default. Whether the repayment instalments are always the same will depend on how the loan is structured and whether the loan offers a fixed or a variable interest rate.
Always check the loan terms to understand in full what the repayment structure looks like.
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