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Repayment Schedule

by | Oct 17, 2025 | Uncategorized

A repayment schedule is a structured plan that details when and how the borrower will repay the loan. Loan apps typically offer flexible schedules based on the loan term and borrower’s preferences.

Minimum Payment

by | Oct 14, 2025 | Uncategorized

The minimum payment is the lowest amount the borrower must pay each month to remain in good standing with the loan. It typically includes both interest and a portion of the principal.

Loan Renewal

by | Oct 11, 2025 | Uncategorized

Loan renewal is the process of extending an existing loan’s term, often with new terms such as a different interest rate. Some online lending apps allow for loan renewals to help borrowers avoid default.