Cost of Loan
A typical loan with us of $1000.00 over six (6) months, with payments of $190.00 per month would set you back around $140-00 in interest charges ($190-00 X 6 = $1140-00) even less if you repay quicker. The APR is set at 48%.
For a loan of $1000-00 for one (1) month the total amount repayable will be approx $1041.00. Your cost $41.00 approx, the APR is set at 48%.
That's it...no hidden fees no other charges. These amounts are estimates only and are really dependant on the exact date's you borrow and repay.
When you see a APR of 48%, (Annual Percentage Rate) the calculation is dependant on a number of factors, one being the amount and time your loan is over, as our loans are generally repaid under 12 months the APR blows out and looks ugly. Please call us for further clarification.
For example a $100-00 loan for one day with a credit charge of $1-00 will equate to a APR of 365%.