Rates and Fees

At EMC Loans, we believe in transparency when it comes to loan costs. Below, you’ll find essential information about the Annual Percentage Rate (APR), fees, and a representative loan example to help you understand the potential costs of borrowing.

Understanding APR (Annual Percentage Rate)

The APR represents the annualized interest rate charged for borrowing, including the nominal interest rate and any additional fees associated with obtaining a loan. It is an important factor to consider when evaluating loan options.

Here are the typical APRs for different types of loans:

• Personal Loans: 4.99% – 450%
• Cash Advance Loans: 200% – 1386%
• Installment Loans: 6.63% – 225%

Since EMC Loans is not a direct lender, we do not determine the specific APR you will receive. Your APR is set by your lender, based on factors such as:

• Your credit score and history
• Your income and financial profile
• The loan amount and repayment term

For exact APR details, please contact your lender directly after receiving a loan offer.

Representative Example of APR

To help you better understand potential costs, here’s an example of how an APR works in practice:

• Loan Amount: $2,500
• Loan Term: 12 months
• APR: 10%
• Fee: 3%
• Monthly Payment: $219.79
• Total Amount Payable: $2,637
• Total Interest Paid: $137.48

Your actual loan terms, including APR and fees, will vary based on the lender’s assessment of your financial profile.

Additional Fees

Lenders may charge additional fees such as:

• Origination Fees (typically a percentage of the loan amount)
• Late Payment Fees (if you miss a payment)
• Prepayment Penalties (if applicable)

We encourage you to carefully review your loan agreement to understand all associated costs before accepting an offer.

At EMC Loans, our goal is to connect you with reputable lenders who offer fair and transparent loan terms. If you have any questions about loan rates and fees, feel free to reach out to us or your lender directly.