Terms and Conditions of Loans

Terms and Conditions of a loan are the detailed rules and agreements you accept when borrowing money. They outline how much you borrow, the interest rate, repayment schedule, and any fees. They also specify your rights and responsibilities, such as making payments on time and what happens if you miss payments. These terms protect both you and the lender, ensuring clarity about repayment obligations and legal considerations. Reading and understanding these conditions helps you manage your loan responsibly and avoid surprises or penalties.