Interest rates ?  Interest Rate simple the amount percentage of money that lender or bank charges when lending money to lender. This rate is often calculated p.a. (per annum) basis while the repayment is often done on monthly basis.   Flat Rate Flat rate is commonly used in personal financing packages in Malaysia. Flat rate is one of the easiest way to calculate interest. This method has been traditionally used however it has been phased off in developed countries as it does not reflect the true amount of interest based on what is owed. To understand flat rate, lets

The post Flat Rate vs Effective Interest Rate appeared first on Personal Loan.