Rates & fees, explained plainly.
The honest version: what APR really means, the fees to watch for, and how to compare two offers on total cost — not just the monthly payment.
What APR actually is
The annual percentage rate (APR) is the yearly cost of borrowing, expressed as a percentage. Crucially, it folds the interest rate and most required fees into one number — which is exactly why it's the right figure for comparing offers. Two loans can advertise the same interest rate but have different APRs if one charges an origination fee.
Representative APRs in our network range from about 5.99% to 199%, depending on your state, credit profile, loan amount and term. Some states cap the maximum APR (for example, a 36% cap on certain loan sizes), which is why your options depend on where you live — see installment loans by state.
Compare offers on these three numbers
- APR — the all-in yearly cost; the single best comparison figure.
- Monthly payment — what fits your budget.
- Total of payments — what you'll actually pay over the life of the loan.
Common fees
Most installment loans involve at most a couple of fees, and they're disclosed before you sign:
- Origination fee — a one-time charge, often a percentage of the loan, sometimes deducted from the amount you receive. It's already reflected in the APR.
- Late fee — charged if a payment is missed; amounts are capped by many states.
- Returned-payment / NSF fee — if an automatic payment can't clear.
There is usually no prepayment penalty, meaning you can pay the loan off early and save the remaining interest — but always confirm this in your specific agreement.
What it looks like in dollars.
| Amount | Term | Example APR | Monthly payment | Total of payments | Cost of credit |
|---|---|---|---|---|---|
| $500 | 6 mo | 99% | $104 | $624 | $124 |
| $1,000 | 9 mo | 99% | $142 | $1,278 | $278 |
| $2,000 | 12 mo | 99% | $217 | $2,602 | $602 |
| $5,000 | 18 mo | 89% | $418 | $7,524 | $2,524 |
Straight answers.
What's a typical APR?
It ranges widely — representative APRs run from about 5.99% to 199% depending on state and credit profile. State rate caps lower the maximum in some places.
Will I always pay an origination fee?
Not always. When charged, it's disclosed up front and already reflected in the APR. Compare offers on APR to account for it.
Can I avoid interest by paying early?
Paying early saves the remaining interest if there's no prepayment penalty — most installment loans don't have one, but check your agreement.
See your real numbers.
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