Rates & Fees

Encoreloan is not an actual lender, and therefore does not make credit decisions or determine actual APRs (Annual Percentage Rate) if your loan request is successful.

Actual loan amounts, terms and APRs vary based on the information supplied by you in your loan request. This information is provided in your loan agreement with the lender you are connected with.

Repayment

Repayment terms on personal loans are generally either monthly or once every two weeks, depending either on your preferences or your lender's terms. Funds are typically withdrawn automatically from your bank account on the date agreed upon with your lender. Be sure that you read and fully understand all of your lender's policies regarding repayment.

Personal Loan Costs

The cost of a personal loan varies based on factors related to your loan request, including the state you reside in, the lender you are connected with, how much you are borrowing, and the repayment terms of the loan. Your credit score may also be taken into consideration.

Typical Personal Loan Terms

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

  • Loan amount: $300 – $15,000
  • 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

Personal Loan Examples

Amount Period APR Monthly Total Paid
$2,000 24 month 12% $94.15 $2,259.60
$2,000 24 month 24% $105.74 $2,537.76
$2,000 24 month 35.99% $118.09 $2,834.16


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