Since you are looking for a loan, you probably already have a rough idea as to how much you want to borrow. Have you thought about how long you want to take to pay it back though? The length of time for a loan can have a big impact on the overall cost and should not be overlooked. You want to make sure you are comfortable with not only the end total, but how much you are paying each month.
Trying to calculate your repayments used to be somewhat difficult due to variable interest rates. With a variable interest rate, the amount you have to pay back could go up or down based on factors that were completely out of your control. With Everyday Loans however, you don't have to worry about that, as we used a fixed interest rate. This means that the amount you choose to pay each month won't change for the duration of the loan.
You can figure out how much you want to pay each month fairly easily using the sliders on our website. By adjusting the different levels, you can set how much you want to borrow, and then adjust the length of the loan term. The longer the loan term, the less you'll have to pay each month, but the more you'll end up paying overall. Play around with the sliders to see what works for you before signing up for a loan.
By figuring out what your loan will look like before you get it, you can better plan for your future. You can work your monthly payments into your budget to ensure that you can afford it. Once you have figured out your perfect loan scenario, you can begin your loan application.