Always curious about this topic, as in which bank offers lowest interest rates on the monthly installement plan?
From what i read, GE seems to be the highest.
Lowest is HSBC?
Is there any other hidden charges? i know some charges processing fees/admin fees of 2.5%
By the way AIR vs EIR, what is the diff?
Lets say for example a 10k loan for a period of 2 years
and the EIR is 17.9% per annum
meaning you are paying total interest of 1790 (excluding admin fees) ?
or issit 1790 on 1st year, and 895 on the 2nd year since 1 year u clear up half the loan