Rates

Know the cost before you borrow

Compare real installment loan examples, and see how paying bi-weekly — or a little extra — can save you money.

Installment loan examples

Example of a $500 Monthly Loan for 6 Months*

Payments are made once a month.

Federal Truth-in-Lending Disclosure Statement

Annual Percentage Rate**The cost of your credit as a yearly rate.499%

Finance ChargeThe dollar amount the credit will cost.$924.32

Amount FinancedThe amount of credit provided to you or on your behalf.$500.00

Total of PaymentsThe amount you will have paid after you have made all payments as scheduled.$1,424.32

Save money

Monthly vs. bi-weekly: total of payments

Same $500 loan, same 6 months. Paying bi-weekly saves $304.42.

Want to save money on your loan's finance charge and pay the loan off early? If you add extra money to your payments, the amount financed will be paid off early and you can save money. In our example, the customer voluntarily adds $9.13 to each bi-weekly payment. The Truth-in-Lending Disclosure Statement will still show the original agreed upon amounts, but the actual amounts paid will be less.

Monthly · 6 payments$1,424.32

Bi-weekly · 12 payments$1,119.90

Total of payments on a $500 loan, from the examples above.

Notes

*Loan terms vary based on income dates.

**Annual Percentage Rate: The APR is the cost of your loan expressed as a yearly rate. The APR may vary depending on the actual loan term. The APR will increase if the actual loan term is shorter than this example and will decrease if your loan term is longer.

Rates, eligible products and terms vary by state. Returning customers' loan amounts and/or rates may vary. See our state licenses for where we lend.