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Understanding APR Rates, Loan Costs & Terms

Submitting your inquiry for a loan at PersonalLoansAndCredit.com incurs absolutely no cost. PersonalLoansAndCredit.com is not a lender and does not provide lending services directly to consumers. Based on the information you submit, PersonalLoansAndCredit.com searches its database housing its network of lenders to pair you with the lender and loan that may be suited to your needs so that you can submit an application directly to the lender. Our lending network consists many direct lenders with interest rates ranging from 6.46% – 34%. Maximum borrowing term is six years. Minimum borrowing term is one year. Each lender has different loan terms, such as the loan amount, the APR for the loan, repayment schedules, etc. Each lender is required by federal Truth in Lending Act law to present to you the terms of the loan, the rates and all costs associated with the loan prior to you executing the loan documents. Prior to applying, consider utilizing our personal loan calculator here to determine what to expect for your loan payments over different rates, terms and loan amounts. After submitting your information, if you are matched with a lender, the lender will contact you to confirm your personal information and finalize the loan. Please make sure that you respond in a timely manner to ensure that funds are made available as quickly as possible. Carefully review the loan amount, fees and other details of the agreement. You are under no obligation to accept a loan until you agree with and e-sign the agreement. Please feel free to exit the process at any time as you are under no obligation to accept the loan presented.

Full Disclosure of Terms
The lender provides documents that contain all fees and rate information pertaining to the loan being offered to you by the lender. Please review the fee and rate information provided to you by your lender at this time thoroughly and completely before agreeing to the terms of the loan. You are under no obligation to accept these terms. If you decide the loan terms detailed in the lender contract are acceptable and wish to proceed with the loan process, e-sign the page and await transfer of your funds. The loan fees and interest rates are determined solely by your lender, with specific amounts determined based upon the information you submitted to the lender. It is possible that once contacted by a lender, as part of their terms for issuing approval, they may request additional information from you and/or ask for your consent to perform a credit check. PersonalLoansAndCredit.com has no control or knowledge of the loan details between you and your lender. You are under no obligation to continue with the application process if you find a particular lender’s loan terms unsuitable.

Personal Loan Costs
On the whole, the eventual cost of a personal loan will vary a great deal based on factors related to the requester, the state the requester lives in, the lender, and the requester’s repayment. Other factors that matter are the amount of money that is borrowed, the period of time of the loan and the specific interest rates used. Your credit score may also be taken into consideration.

Repayment on personal loans is generally performed either monthly or once every two weeks, depending either on your preferences or your lender’s terms. You may be able to have funds withdrawn automatically from your bank account on the date agreed upon with your lender. Be sure that you read and fully understand all of your lender’s policies regarding repayment and understand what you will have to do as a borrower to repay the loan. Your loan can not be conditioned upon repayment by electronic funds transfer or automatic withdrawal. Consult your lender for more details.

Late Payment Policy
All lenders have varying policies regarding late payments. Review the late payment policy detailed in the loan documents provided to you by your lender before appending your e-signature, and thereby agreeing to the loan terms. All lenders, however, must abide by applicable laws, rules, and regulations regarding late payment fees. Lenders sometimes will grant borrowers a one-time exception for a late payment and increasing rates, fees and reporting your negative account activity to the credit bureaus. However, if you are late more than once, it is likely the cost of your loan will increase and your credit score will be adversely affected.

Non-Payment Policy
Your credit score will be adversely affected if you do not make payments. In addition, additional fees or charges may apply to you in the event that you are unable to repay your loan. PersonalLoansAndCredit.com uses commercially reasonable efforts to work only with reputable lenders dedicated to pursuing collections of past due accounts with conduct that is fair and reasonable.