We often see that the annual interest rate of bank loans is 6% (assuming), and we will also see that many microfinance companies have an annual interest rate of 6%, which is similar. Small loan companies have simple review procedures and easy lending. Come to small loan companies.

Lending company:

Therefore, although the interest on the average capital of money with equal principal and interest is a little more, it is also much less than that directly calculated by the annual interest rate, and this method will not have the pressure on the average capital to start higher interest because of the fixed interest.

And because the interest is calculated on a monthly basis, if you want to repay in advance, you won't suffer, because the bank only collected the interest of the previous month and confiscated the subsequent interest.