Easy Loan Financial
What is a good Personal loan interest rate?
If you need cash or wish to consolidate debt Personal loans are one option you might consider. They are one-time lump-sum payments and you can utilize the money for whatever you want.
What is the best rate for a personal loan?
Get Your Personal Loan Up To $5000
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Annual Percentage Rate (APR)
The Annual Percentage Rate (APR) represents the annualized interest rate that you pay for borrowing.It’s the result of the nominal rate as well as other expenses, such as the fees that are involved in the process of obtaining the loan.Typically, APRs for personal loans range from 4.99 up to 450%. The APRs for cash advances vary from 200% up to 1386%, and the APRs of installment loans range from 6.63 percent to 215 percent. Since Fundsjoy is not involved in the process of lending, we are unable to provide any details regarding the APR you’ll be offered. The APR is solely based on the lender’s judgment that is based on several factors including your credit score as well as your income, credit history and some other information you submit in your request. For more details on the APR inquire with your lender.
An Example of a Representative Example of APR
If you take out a loan of $2,500 over a term of 1 year at 10% APR and charge of 3%, you will be charged $219,79 every month.The total amount due is $2,637 with the total interest being $137,48.
Financial Impacts (Interest & Finance Charges)
Fundsjoy does not function as a lender and we are unable to predict the interest rate and fees that will be charged to the loan that you will be given. It is your lender that will give you all the details about the costs of the loan. Your responsibility is to study the loan contract carefully and accept the offer only when you are in agreement with all the terms. Fundsjoy service is absolutely free and you are not under any obligation to accept the terms that the lender provides you.
The consequences of non-payment
If you agree to these terms and conditions of a loan, you enter into a contractual agreement to repay the amount owed in accordance with the schedule in the document. In the event of non-payment fees, additional charges can be assessed. Penalties for late payment vary by lender. Since Fundsjoy does not participate in the process of lending, we cannot supply any information regarding the charges you’ll be charged if a default occurs. For more details, contact the lender directly in case you have concerns regarding your loan repayment.
Possible Impact on Credit Score
Fundsjoy does not function as a lender and we do not check your credit score or credit capacity. When you request a loan on our website, this is considered an informal inquiry, and will not affect your credit score. However, some lenders may carry out a credit check to ascertain your eligibility to get a loan. The likelihood is that they will refer you to one of the three major credit agencies (Transunion, Experian, and Equifax) which is typically viewed as an unreliable inquiry. It could impact your score on credit.
Collection Methods
Fundsjoy is not a lending institution. Therefore, we are not involved in any debt collection practices and cannot make you aware of any of them. Your lender will outline their collection practices in the loan agreement. If you have any questions regarding the issue, please, address these directly to the lender.For more information visit our Responsible Lending page. does not itself have any involvement as a collection agency.
Loan Renewal Policy
Options for loan renewal aren’t always readily available.Therefore, it is important to confirm whether this option is available with your lender. Make sure you read the renewal policy presented in the contract before you take the necessary steps to sign the documents.
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