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What is a fixed interest rate?

What is a fixed interest rate?

A fixed interest rate is a set interest rate which does not change for the period of your loan.

All Greater Bank Personal Loans feature a fixed interest rate for the life of the loan. This type of loan may be suitable if you want certainty that your repayments will stay the same throughout the life of the loan which can help to make budgeting easier. Plus, there are no penalties if you’d like to make extra or early repayments or if you fully repay your loan early.