Episode 12: What Do You Look For In A Loan – Interest Rate, Payment Per Month, or Term of Loan?


  • If you’re looking for a loan, what is your priority when it comes to choosing one – the interest rate, the payment per month, or the term of loan?
  • Interest rate refers to the percentage of your loan payment that is accrued when you pay back the credit union. This directly impacts the total amount you pay the credit union back in the long term.
  • You monthly payment can be fixed to help those who rely on a set budget. If you have a fixed payment, this could mean a higher interest rate or longer term, but it would mean your payment will always be the same.
  • The term of the loan means the amount of time you have to pay back the loan. If it is a high priority to pay back the loan faster, and get out of debt sooner, GHS can shorten the length of the loan. This could mean a higher payment per month.
  • Whichever is most important to you, rate, payment, or term, GHS loan officers can work with you to meet that priority and get you the best loan option for you and your financial goals.
  • Fill out a 0-obligation application form to talk with a GHS loan officer about what your goals are, and how we can meet them to get the loan you need!
    • Select which loan you want to apply for under “Loans and Credit Cards
    • Click Apply Now
  • GHS is always here to help you understand that best option for you. Call us if you need us at (800) 732-4447.