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A linked account can add another set of conditions
A loan discount may depend on maintaining another account or payment method.
That relationship can introduce charges or a change mechanism not obvious in the headline rate.
The comparison should include the obligations required to retain the quote. A statement about the loan price alone cannot establish the complete cost of the linked arrangement.
Compare secured and unsecured structures
Definitions
- Total repayable
- Sum payable under the stated schedule and its assumptions; contingent charges and changes must be considered separately.
- Amount received
- Money actually made available to the borrower, which can differ from the stated loan amount if a charge is deducted.