How should you decide on the repayment period of a loan?

For the same loan amount, the longer it takes you to repay, the smaller the repayment amount of each instalment, but the higher the total interest incurred. How should you decide between the monthly repayment amount and the total interest?

Generally speaking, borrowers should ensure they have the ability to handle the monthly repayment amount and choose a shorter term to minimise interest costs. A debt is always a burden. Settle your loans as quickly as possible, so that you can invest more time and resources in other important personal finance matters, such as savings and investments, etc.