APR Disclosures & Repayment Terms
Annual Percentage Rate (APR) is a measure of the cost of credit, expressed as a nominal yearly rate. It relates to the amount and timing of value received by the consumer to the amount and timing of payments made. EiLoan cannot guarantee any APR since we are not a lender ourselves. An APR can generally run between 5.99% up to 35.99%. Loan products general have a 61-day minimum repayment term and a 72-month maximum repayment term. Before accepting a loan from a lender within our network, please read the loan agreement carefully as the APR and repayment terms may differ from what is listed on this site.
Representative Examples of APR, Total Loan Costs & Fee
| Loan Amount | $1,000 | $2,000 | $5,000 | $10,000 |
|---|---|---|---|---|
| Interest Rate | 24% | 19% | 13% | 8% |
| Loan Term | 12 Months | 24 Months | 48 Months | 60 Months |
| Fee | 3% | 5% | 8% | 10% |
| Fee Cost | $30 | $100 | $400 | $1,000 |
| Repayment | $29.82 | $100.82 | $131.67 | $202.28 |
| APR | 29.82% | 24.12% | 18.23% | 9.20% |
| Total Payments | $1,134.74 | $2,419.68 | $6,320.12 | $12,136.80 |
| Total Costs | $164.72 | $519.68 | $1,720.12 | $3,136.80 |
Financial Implications (Interest & Finance Charges)
EiLoan.com is not a lender, and we cannot predict what fees and interest rates will be applied to the loan you will be offered. Your lender will provide all the necessary information about the cost of the loan before you get approved. You are responsible for perusing the loan agreement carefully and accepting the offer only if you agree to all the terms. eiloan.com service is free of charge, and you are under no obligation to accept the terms that the lender offers you.
Implications of Non-Payment
When you accept the terms and conditions for a loan, you enter into commitment to repay the amount you owe according to the specific schedule outlined in the documents. In the event of non-payment, additional charges may be applied. Late payment penalties vary by lender, and as EiLoan.com is not involved in the lending process, we cannot supply any information on the fees you will incur if any default occurs. For more information, please contact the lender directly if you have any issues relating to Your Loan repayment.
Potential Impact to Credit Score
eiloan.com is not a lender, and we do not check your credit standing and credit capacity. When you submit a request on our online platform, this is considered a soft inquiry and does not impact your credit score. However, some lenders may carry out a credit check to ascertain your eligibility for a loan. They will most likely turn to one of the three major credit bureaus: Transunion, Experian, or Equifax. When the lender inquires about your credit via these platforms, that inquiry will be is in most cases, considered a hard inquiry, which may affect your credit score.
Collection Practices
EiLoan.com is not a lender. We are not involved in any debt collection practices and cannot make you aware of any of them. Your lender will specify their collection practices in Your Loan agreement. If you have any questions regarding the loan collection, please, address them with your lender. For more information, visit our page for Responsible Lending.
Loan Renewal Policies
Loan renewal options are not always available. It is therefore advisable to clarify whether the option is available with your lender. Before you sign the documents, carefully read and understand the renewal policy presented in the agreement.