3 ms·
In the US that would be part of the particular loan contract. It means you have to pay attention when borrowing, but loans with that penalty likely carry a sli
by maxerickson 4y ago
In the US that would be part of the particular loan contract.
It means you have to pay attention when borrowing, but loans with that penalty likely carry a slightly lower rate for the borrower (because they are predictable for the lender). It isn't entirely arbitrary.