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Pitfalls to avoid in personal loan: #4 Processing Fee

Pitfalls to avoid in personal loan: #4 Processing Fee

Tuesday, May 23, 2017, 12:04 PM

Almost every unsecured loan comes with a processing fee and there is no escaping it. But you can still get a better deal if you remember to compare the APR (annual percentage rate) of a personal loan, rather than the interest rate alone. Some lenders simply deduct this fee from the approved loan amount, which many customers do not anticipate.
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