The interest rate will be finalised on the specific terms and conditions of the loan. In some cases, loans for longer duration may include a fixed interest rate, which means it remains constant all over the repayment period.
In most cases, these loans may have interest rates that can change over time, typically in response to market fluctuations. Hence, it is essential to carefully review the loan terms and clarify with the lender whether the interest rate is fixed or subject to change during the loan term.