HomeEducation Education Always pay high interest loans first Always pay high interest loans first

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Always pay high interest loans first

Always pay high interest loans first

Friday, September 1, 2017, 11:22 AM

As a rule, it is a good idea to close unsecured-loans such as personal-loans or credit-card dues as they come with a huge interest rate. Compared to a car loan or a home-loan, a personal loan can be as much as 5 percentage points higher, and credit card interest rates even more. So it makes sense to pay off these high-interest loans first.
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