Weekly, fortnightly and monthly payments describe different schedules. A smaller figure per payment does not establish a smaller annual commitment when the number of payments differs.
Use the actual due-date schedule to compare totals and timing, rather than assuming every month contains the same number of weeks. Check what changes if the provider offers another frequency.
Details
- Weekly, fortnightly and monthly payments describe different schedules.
- Use the actual due-date schedule to compare totals and timing, rather than assuming every month contains the same number of weeks.
- Separate quoted conditions from assumptions
- Locate the agreement version and date
- Ask how a change affects the remaining schedule
Changes in circumstances
Identify the responsibility behind a shared loan
Read the schedule alongside the amount made available. Keeping those questions together makes a comparison useful before any judgment about affordability is made.