Term Credit

Wai Mun Fong and Benedict Koh

Chapter 7 in Managing Your Personal Finance:From Start of Career to Retirement and More, 2020, pp 47-51 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Dear David,Most people personally encounter term loans at least twice in your life: when they buy a car and when they buy a house. Car loans and housing (or mortgage) loans are the most common types of term loans. In Singapore, the maximum term of a car loan is 7 years (previously it was 5 years). Housing loans can stretch much longer, with some banks offering terms of up to 35 years. Other examples of term loans include personal loans, renovation loans and education loans…

Keywords: Personal Finance; Investment; Managing Money; Retirement planning; College planning; Borrowing; Buying Bonds; Investing in Real Estate; Estate Planning (search for similar items in EconPapers)
JEL-codes: D14 (search for similar items in EconPapers)
Date: 2020
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