Rates & Fees

EngageLoans.com does not make credit decisions or determine rates and terms. Only a lender can provide you with information on their rates and terms. This will typically happen shortly after your loan request is complete, and you are matched with a lender. Remember, you are under no obligation to accept the loan offer if the terms are not satisfactory for whatever reason.

Online Personal Loan Costs

The cost of a personal loan will vary a great deal based on factors related to the information provided by you the borrower, the state the you reside in, the lender, and the borrower's repayment request. 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. At times Your credit score may also be taken into consideration

Standard Online Loan Program Terms

While specific terms of personal loans will vary depending on our state, your lender and you specific circumstances, below is a general range of common terms.

  • Loan amount: $1,000 – $35,000
  • Lending period: 6 - 72 months
  • Payment frequency: Once a month or twice a month
  • APR: Will vary based on your credit score, repayment history and other factors.
  • Prepayment penalty: None

Online Loan Program Examples

Loan Amount Received Money Owed Period Monthly Payments Total Paid Effective Interest APR %
$300.00 $345.00 7 days $0 $345.00 15.00% 782.14%
$1,400 $1,610.00 3 mo $536.67 $1,610.00 15.00% 60.83%
$2,000 $2,166.20 12 mo $180.52 $2166.20 8.31% 8.43%
$4,000 $4,385.74 24 mo $182.74 $4,385.74 9.64% 4.89%
$6,000 $7,174.29 36 mo $199.29 $7174.29 19.57% 6.61%

Repayment Of Loans

*Late payments of your loan may cause the APR to rise and other Fees may be added to loan amount. Loan examples showed above are of loans where there are no late payment fees or the negative effect on the agreed APR. It is recommended to have funds withdrawn automatically from your bank account on the date agreed upon with your lender to avoid late payment charges. 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.