If you borrow money from a bank[ take out a loan ] they will charge you 'interest' [extra money] as you pay it back to them. Interest rates vary from bank to bank. Here's an example of a $10,000 bank loan and they charge you 7.50% interest on top of your minimum monthly repayments. Of course you can pay more. Brucy's loan from Bank AAAA =$10,000.00 Minimum monthly payment..: $800.00 Maximum monthly payment.:$1200.00 Annual interest rate:7.50% Total Interest on your Loan: Using the maximum payment you'll pay $444.88($31.78 average per month) in total interest. Using the minimum payment you'll pay $302.79($33.64 average per month) in total interest. I am sure that now you will be able to work out how much this $10,000 loan is going to cost you!

when you take out a loan, you have to pay it back. So, yes, you do have to pay something for it.