Installment Loan Sample Rates and Terms

Below is an example payment schedule for a $300 installment loan. Please note that your APR may vary based upon your total loan duration and amount funded. Remember that the sooner you pay back your loan, the less your total loan cost will be.

Example Loan Summary Details:

Interest Rate Loan Amount No. of Payments Pay Frequency Payment Amount
780% $300 19 Bi-Weekly $90.48
1 Bi-Weekly $88.00
Total Principal Total Interest Total of Payments
$300 $1,507.12* $1,807.12
*502% of principal

 

Example Loan Schedule:

Payment No. Payment Amount Interest Payment Principal Payment Cumulative Principal Cumulative Interest Loan Balance
1 $90.48 $90.00 $0.48 $0.48 $90.00 $299.52
2 $90.48 $89.86 $0.62 $1.10 $179.86 $298.90
3 $90.48 $89.67 $0.81 $1.92 $269.52 $298.08
4 $90.48 $89.43 $1.05 $2.97 $358.95 $297.03
5 $90.48 $89.11 $1.37 $4.34 $448.06 $295.66
6 $90.48 $88.70 $1.78 $6.12 $536.76 $293.88
7 $90.48 $88.16 $2.32 $8.44 $624.92 $291.56
8 $90.48 $87.47 $3.01 $11.45 $712.39 $288.55
9 $90.48 $86.56 $3.92 $15.37 $798.95 $284.63
10 $90.48 $85.39 $5.09 $20.46 $884.34 $279.54
11 $90.48 $83.86 $6.62 $27.07 $968.21 $272.93
12 $90.48 $81.88 $8.60 $35.68 $1,050.08 $264.32
13 $90.48 $79.30 $11.18 $46.86 $1,129.38 $253.14
14 $90.48 $75.94 $14.54 $61.40 $1,205.32 $238.60
15 $90.48 $71.58 $18.90 $80.30 $1,276.90 $219.70
16 $90.48 $65.91 $24.57 $104.87 $1,342.81 $195.13
17 $90.48 $58.54 $31.94 $136.81 $1,401.35 $163.19
18 $90.48 $48.96 $41.52 $178.33 $1,450.31 $121.67
19 $90.48 $36.50 $53.98 $232.31 $1,486.81 $67.69
20 $88.00 $20.31 $67.69 $300.00 $1,507.12 $0.00

 

PAYMENT SCHEDULE

Your full payment schedule will be included in your loan agreement. It will display each payment amount, each payment due date and the number of payments. You can reduce the total cost of your loan by paying off your loan prior to your last due date on your payment schedule or by making additional payments on or between your payment due dates. You control how soon you wish to pay your loan off. There will not be any prepayment penalties.

LATE FEES

Late fees and non-sufficient funds / returned item fees may apply as described in your loan agreement. To reduce the cost of your loan, we strongly recommend that you pay your loan in full or make additional payments as soon as you can. There are no early payment penalties.

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