People borrow money for different lengths of time, so the annual percentage rate gives a standard way of comparing loan costs. It doesn't mean the lender will actually lend you money for a year, but it's the standard for comparing deals. If you pay back your loan in less than a year, you'll pay less than the annual rate in interest. I'm not a maths whizz, how can I understand APR.
Interest rates. Per cent just means per hundred. So for money 1 is 1p in the pound. 50 is 50p online payday loansohio the pound.
An APR can generally run between 6 up to 35. Loan products general have a 2-month minimum repayment term and a 84-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. Repayment Terms. Loans include a minimum repayment plan of 2 months and a maximum repayment plan of 84 months. 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 online payday loansohio this site.
Lender-approval and loan terms will vary based on credit determination and applicable state law - they may offer loans with fixed rates from 6 to 35 APR. The lender's approval process may take longer due to additional documents being requested. © 2017 Online payday loansohio Loans.
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APR Disclosure. The APR is a specific rate of interest on the total loan amount and it may vary. It is based on a loan amount, its cost and term, timing of payments and repayment amounts.