Rates and Fees
Last updated: July 2026
APR ranges by loan type
| Loan type | Amount | Term | APR range |
|---|---|---|---|
| Installment loans | $100 – $5,000 | 3 – 24 months | 6.63% – 225% |
| Personal loans | $100 – $35,000 | 1 – 5 years | 4.99% – 450% |
| Short-term (cash advance) | $100 – $1,000 | 7 – 31 days | 200% – 1386% |
These are the ranges available across the lender network as a whole, disclosed as required. They are not offers, and the upper ends do not apply everywhere: many states cap covered consumer credit at or near 36% APR, in which case the ceiling in your state governs regardless of what appears above.
What determines your APR
- The lender and their underwriting criteria
- The amount and term you select
- Your credit history and verified income
- Your state of residence and its statutory ceilings
- Any origination fee or other charges applied
Common fee types
Origination fee
A one-time charge, usually deducted from the loan proceeds rather than billed. Typically 0% to 10% of the principal. Because it reduces what you receive without reducing what you repay, it raises the real cost of credit above the interest rate before fees — often substantially on a short term.
Late payment fee
Charged when a scheduled payment is not received by the due date. Amounts and grace periods vary by lender and by state law, and some states cap them.
Returned payment fee (NSF)
Charged when a scheduled ACH debit is returned for insufficient funds. Your bank will usually charge its own fee on the same transaction, so a single short month can cost twice what the lender's schedule suggests.
Prepayment penalty
A charge for repaying early. Many lenders do not impose one, and where none exists, paying ahead of schedule can save a meaningful share of the interest. It is a single line in the agreement and worth locating before you sign.
Illustrative example
Illustrative arithmetic, not an offer and not a rate available to any particular borrower:
- Principal
- $500.00
- Term
- 12 months
- Interest rate (before fees)
- 36.00%
- Origination fee (5%)
- $25.00
- Amount you receive
- $475.00
- Monthly payment
- $50.23
- Total of payments
- $602.75
- Interest paid
- $102.75
- Total cost of credit
- $127.75
- Estimated APR (fee included)
- 46.4%
The quoted rate was 36%. The real cost of credit is 46.4%, because $25.00 never reached the borrower while interest accrued as though it had. That gap — 10.4 percentage points from a modest fee over a one-year term — widens further on shorter terms, since the same fee is spread across fewer payments.
These figures are generated by the same code as our total cost calculator, so the two cannot disagree. Enter your own numbers there.
How to compare two offers
- 01Compare the disclosed APR, total cost, cash received, and payment schedule. APR includes applicable finance charges; do not add the same fee twice.
- 02Compare the total of payments, not the monthly payment. A longer term always makes the monthly figure smaller and the total larger.
- 03Check the fee is deducted from proceeds rather than demanded up front. No legitimate U.S. lender asks for payment before funding.
- 04Find the prepayment terms. Where early repayment is free, it is often the cheapest decision available to you later.
- 05Read the late and NSF fees. They determine what one difficult month actually costs.
Warning: Short-term and small-dollar borrowing can be expensive. Late or missed payments may result in additional charges, bank fees, collection activity, or negative credit reporting. Consider payment plans, credit-union products, employer advances, nonprofit assistance, and credit counseling before borrowing.
StraightSum is not a lender, loan broker, or credit services organization. We do not make credit decisions, issue funds, set rates or fees, guarantee approval, or service loan accounts. Submitting an inquiry is free and does not guarantee a match, approval, funding, a specific amount, APR, or repayment term.