What do people know about loans, really?

Loans play a surprisingly significant role in our lives. But when you think of loans, the first thing you may think of is a student loan or perhaps a car or housing loan. Or perhaps something which, if you don’t repay, will result in paint being splashed on your door? 

Loans are those things but they are also a whole lot more. Chances are, you may have used your credit card to pay for at least one thing over the course of the last week. Just like that, you, my friend, have taken a loan. 

We are not minimising the importance of loans. But it's worth taking it off the pedestal to demystify the concept. In this series we get to the bottom of some fundamental questions: 

• Just what is a loan? And what’s the big deal about taking a loan?
• What are the different types of loans and how do you know which will best suit your needs? 
• We think loans can better serve customers and empower them by putting choices back in their hands. Is this just a pipe dream? 

To tackle the first question, we teamed up with Tropic Monsters TV to find out what exactly people know (or think they know) about loans.

‍

‍

‍

Psst! Here's something else you should know:‍

Link(s) in this article may bring you to a third party website(s), owned and operated by an independent party over which GXS Bank has no control ("3rd Party Website"). Any link you make to or from a 3rd Party Website will be at your own risk. Any use of a 3rd Party Website will be subject to and any information you provide will be governed by the terms of the 3rd Party Website, including those relating to confidentiality, data privacy and security.

‍

‍