Rates and Fees

At Access Loans, transparency is key. Below, we provide detailed information about rates, fees, and terms, so you can make informed decisions before applying for a payday loan.

Annual Percentage Rate (APR)

The APR represents the annualized interest rate charged for borrowing. It combines the nominal interest rate and additional costs, such as fees, involved in obtaining the loan.

Payday Loans: APRs typically range from 200% to 1386%, depending on your loan amount, repayment terms, and credit profile.
Installment Loans: APRs may vary from 6.63% to 225%.
Personal Loans: APRs generally range from 4.99% to 450%.

The APR you are offered depends on various factors, including:

Your credit score and credit history
Your income and financial information provided during the application

Representative Example of APR

For illustrative purposes, if you borrow $2,500 over a 1-year term at an APR of 10% with a fee of 3%, you will:

Pay $219.79 per month
Repay a total amount of $2,637
Accumulate total interest of $137.48

Fees and Costs

Origination Fee: This fee varies by loan amount and term. It is disclosed during the application process.
Late Payment Fee: A fee may apply if a payment is not made on time.
Returned Payment Fee: If a payment is returned by your bank, additional fees may be assessed.

Important Notes

Since Access Loans partners with multiple lenders, we cannot guarantee a specific APR or fee upfront. The exact terms depend on your lender’s policies, your credit profile, and the loan amount requested.

Contact Your Lender

For specific information about the rates, fees, and terms applicable to your loan, please contact your lender directly. They will provide a detailed breakdown based on your unique situation.

Access Loans is here to connect you with fast, convenient payday solutions that work for you. Apply today and take control of your financial future!