Therefore, when you borrow a small

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The amount you want to borrow: The larger the amount, the lower the interest rate. Repayment period: The shorter the repayment period, the lower the interest. On the other hand, a longer repayment period means a higher interest. Therefore, the effective interest rates for the following loan amounts might be: NOK 20,000: 20% to 30%.



NOK 20,000 – NOK 50,000: 15% to 20%. NOK 500,000: 5% belgium business fax list 13%. How fees affect the effective interest rate of SMS loans The effective interest rate is usually made up of the monthly installment and the origination fee. This is the case with the rates listed above.



Therefore, when you borrow a small amount of money with a high establishment fee, the actual interest rate will increase significantly. NOK 900 is considered a normal origination or establishment fee. Some banks will ask for this exact amount or something close to it, and this amount is not determined or affected by the amount of credit.