What is Term?

A term is the period you commit to a fixed product, from the first repayment to the last, expressed in months. A short term keeps the outstanding balance small and the overall cost lower, while a long term spreads the same borrowing over more months and cuts the monthly amount. 1822direkt offers the longest span in the set, 24 to 120 months. Abhi runs the shortest at 1 to 4 months, and ABB Bank and ABA Bank sit in between.