| Payment Number | Beginning Principal ($) | Finance Charge ($) | Payment Due ($) | Ending Principal ($) |
|---|---|---|---|---|
| 1 | 300 | 90 | 90 | 300 |
| 2 | 300 | 90 | 90 | 300 |
| 3 | 300 | 90 | 90 | 300 |
| 4 | 300 | 90 | 90 | 300 |
| 5 | 300 | 90 | 120 | 270 |
| 6 | 270 | 81 | 111 | 240 |
| 7 | 240 | 72 | 102 | 210 |
| 8 | 210 | 63 | 93 | 180 |
| 9 | 180 | 54 | 84 | 150 |
| 10 | 150 | 45 | 75 | 120 |
| 11 | 120 | 36 | 66 | 90 |
| 12 | 90 | 27 | 57 | 60 |
| 13 | 60 | 18 | 48 | 30 |
| 14 | 30 | 9 | 39 | 0 |
Sample Table of Loan Rates and Terms
SAMPLE INSTALLMENT SCHEDULE SAMPLE LOAN TERMS:
$300 loan amount, 30% periodic service fee, 10% principal reduction payments starting on payment 5
$300 loan amount, 30% periodic service fee, 10% principal reduction payments starting on payment 5
Personal Loans Rates and Terms (Up To $10,000)
Representative Example (Qualified Customers)
If you borrowed $5,000 over a 48 month period and the loan had a 8% arrangement fee ($400), your monthly repayments would be $131.67, with a total pay back amount of $6320.12 which including the 8% fee paid from the loan amount, would have a total cost of $1720.12. Representative 18.23% APR.
If you borrowed $5,000 over a 48 month period and the loan had a 8% arrangement fee ($400), your monthly repayments would be $131.67, with a total pay back amount of $6320.12 which including the 8% fee paid from the loan amount, would have a total cost of $1720.12. Representative 18.23% APR.
Examples of Costs & APR
| Loan Amount | Interest Rate | Loan Term | Fee | Fee Cost | Repayment | APR | Total Repayments | Total Cost |
|---|---|---|---|---|---|---|---|---|
| $1,000 | 24.00% | 12 months | 3.00% | $30.00 | $94.56 | 29.82% | $1,134.72 | $164.72 |
| $2,000 | 19.00% | 24 months | 5.00% | $100.00 | $100.82 | 24.12% | $2,419.68 | $519.68 |
| $5,000 | 13.00% | 48 months | 8.00% | $400.00 | $131.67 | 18.23% | $6,320.12 | $1,720.12 |
| $10,000 | 7.90% | 60 months | 10.00% | $1000.00 | $202.28 | 9.20% | $12,136.80 | $3,136.80 |
* Most short-term loans require repayment within 14 days or on your next pay date. Loan extensions, also called “renewals” or “rollovers” often entail payment of the Finance Cost as a minimum payment and will incur an additional Finance Cost in exchange for another loan term.
** APR is the cost of borrowing money for an entire calendar year. Short-term loans are never intended to be used for this period of time; and we encourage other loan products to meet your financial needs.
*** Simple interest is calculated only on the current principal amount of the loan and is not compounded over multiple time periods.
**** A Short-Term Consumer Loan is designed to help consumer borrowers meet their short-term financial emergencies and is not intended to meet their long-term financial needs.