Principal is a term and term that contains information about the amount that you originally borrowed from either your bank, a private individual or an online loan provider. That is, the principal is the original amount that you borrowed, without the interest or fees accrued afterwards. For example, if you borrowed DKK 4,000, it is your principal, and if you only pay interest on your principal, this will remain unchanged.
Thus, principal is equal to starting debt
You now agree that your principal is equal to your initial debt, which is an amount that does not change. Thus, when you incur debt, it consists of the principal as the first component. Then there are other components like interest, foundation costs, fees, etc. These things do not affect the principal but the total debt that you incur. The only time when the principal and the outstanding debt are the same is if you have not paid off your loan yet.
You now agree that your principal is equal to your initial debt, which is an amount that does not change.
Loan from Molena Flerosass
You can always apply for a loan through Molena Flerosass. As long as you meet our loan terms and you can be credit rated, we will gladly lend to you. You can use our loan calculator to get an overview of how much you can borrow and at what interest rate you borrow. The easiest way to get started is to set a budget from your current starting point in the month you are in. Submit your budget until the end of the year and start a new one that runs from January 1st. That way you can get a total annual budget so that you can more easily plan your perfect personal finances. In order to give you a better and better overview of your finances, we have created a budget template that you can download for free. The budget template can be found below.
At Molena Flerosass, you take out a short-term loan, which means that we expect you to not borrow more than what you can afford to pay back in the foreseeable future. With us you can borrow between 3,000 and 20,000 kroner and with the help of our instant transfer you can receive the money within minutes.