Personal Loan Rates & Fees

APR is commonly used by lenders. It refers to the cost of borrowing on an annual basis. Looking at the APR is one way to compare multiple loan offers. If you are matched with a lender after submitting your application on, your lender will send you an offer with information regarding their rates and terms. does not determine loan rates and fees. You are not under any obligation to accept a loan offer generated from using You should deny any loan offer that does not meet your financial needs.

Understanding Personal Loan Repayment

Your lender may have monthly or bi-monthly repayment options. Many borrowers prefer to set up automatic repayment to avoid missing payments. Make sure to review the terms of your loan and understand when your due dates are. Reach out to your lender directly for more information on repayment.

What Happens if You Miss a Payment

You should adjust your budget to make your payments on time. If there are unavoidable circumstances that lead you to be behind on a payment, you should contact your lender as soon as possible. Late fees are set by your lender and according to state regulations. Each lender determines their own late policies. Read your loan agreement to understand the penalties for missing a payment.

Implications of Non-Payment

Financial Implications

Your lender may charge additional fees for non-payment or non-sufficient funds.

Collection Practices

If you have not paid off your loan by your due date, your lender may renew it automatically. Some lenders provide different repayment options including auto renewing, paying it in full or paying down your principle. If your loan is renewed, you may be charged new fees and your loan rate could be reset.

Credit Implications

Your lender is within their rights to contact the credit bureaus if you are late making repayment, which would negatively impact your credit score. However, once you have paid back your loan in full, the lender can update the credit bureaus.

Your State Regulations

The lenders in our network are required to adhere to Federal law and state regulations as they apply to personal loans. States typically govern the maximum amount that can be borrowed and the amount of finance charges and interest that a lender can charge. Some states set limits on the number of loans that may be outstanding at any given point and the number of extensions that are available to consumers.