What Are The Costs And Fees For A Small Personal Loan?

A small personal loan is a short term funding solution. During financial emergencies you can rely on this loan to access quick cash advance. The borrowed loan amount can be used to meet sudden expenses with ease. But before you take up a personal loan, just make sure you can afford to borrow and then shop around to get the best deal on fees and charges.

If you get a small personal loan in between $300-$2,000, you must able to repay the money you borrow within a specific period of 9-12 weeks. You should also be able to pay the fees and charges attached with the loan on time.

This type of borrowing is considered high compared to other types of credit. You will receive a tailored interest rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.

  • Minimum loan amount: $300
  • Maximum loan amount: $2,000
  • Loan Terms: 3 - 6 months
  • Establishment fee: 20%
  • Monthly Fee: 4%

An establishment fee of 20% and a monthly fee of 4% are charged on the principal loan amount. On utilizing a number of loan comparison tools and calculators available online, you will be able to search for a best rate on the amount you owe.