loan terms Archives

How to Read a Loan Sanction Letter: Key Terms to Check Before You Accept

October 13, 2026 by Ch Arbsz

Borrower reviewing a loan sanction letter and highlighting key terms at a desk

How to Read a Loan Sanction Letter: Key Terms to Check Before You Accept The email lands in your inbox: “Good news, your loan has been approved.” You feel relief, maybe even a little excitement. Before you click accept, though, one document deserves ten unhurried minutes of your time. A loan sanction letter is the … Read more

The Prepayment Penalty Trap: Why Paying Off Your Loan Early Can Cost You

September 20, 2026 by Ch Arbsz

Person reviewing a loan agreement to check for a prepayment penalty before paying off the loan early

Paying off a loan early feels like an obvious win — less interest paid, one less monthly obligation, and a debt-free milestone reached ahead of schedule. But for some loans, that instinct can backfire. A prepayment penalty is a fee some lenders charge specifically for paying off a loan faster than the original schedule, and … Read more

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