At Yournextpayday Inc., we believe in complete transparency. In compliance with the federal Truth in Lending Act (TILA), this disclosure outlines standard rate ranges, representative Annual Percentage Rates (APRs), fee structures, and repayment considerations for short-term and installment loans.
1. Representative APR & Fee Structure
Because Yournextpayday Inc. is not a direct lender, we do not set specific interest rates or loan fees. Exact rates, fees, and repayment terms are determined exclusively by the independent licensed lender that reviews your application.
- APR Range: Typical short-term personal installment and cash advance loan APRs range between 5.99% and 35.99% for qualified borrowers, or standard state-regulated short-term fee tiers.
- Repayment Periods: Loan terms generally range from 61 days to 72 months depending on loan amount and state regulations.
2. Representative Loan Example
For a loan of $1,000 borrowed over a 12-month period at an Annual Percentage Rate (APR) of 24.00%:
- Monthly Payment: $94.56
- Total Finance Charge / Interest: $134.72
- Total Repayment Amount: $1,134.72
3. Late Payments & Non-Payment Policy
Lenders may assess late fees or return item charges in accordance with applicable state caps if a scheduled payment is missed. Failure to repay according to agreed terms may impact credit reporting. Review your lender's full promissory note prior to electronic execution.