Loan terms are generally determined by ASIC's regulatory guidelines; however, these terms may differ for the same type of loan offered by the same or different lenders.For example, you might have a personal loan with a principal payment term and another personal loan with an interest-only payment term. Despite being the same loan product, the payment terms for these loans are different – that is one important thing to note when comparing your loan offers.Keep in mind that fees and interest rates are part of any loan agreement, so expect to pay a little more than the actual amount you are looking to borrow.