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Decide on the loan parameters.
Choose the amount of money that you want to take out.
As a rule of thumb, you should not borrow more than you need. Generally, the smaller the principal amount is, the cheaper the loan will be. You need to choose the repayment term carefully as well.
A longer term will result in smaller and consequently more affordable monthly payments. However, it will also make the loan more expensive since interest will be charged for longer.
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In any case, you must ensure that you can afford to repay the online loan without the need to borrow money again or extend the term.
