The amount of payments will vary based on the loan amount, the number of payments and the length of the loan. Using a $500 loan with a 10% acquisition charge and a 98-day loan term as an example:
A $500 loan would cost $595 which includes finance charges of $95, consisting of the acquisition charge and three installment account handling charges, and is based upon you agreeing to make seven payments of $85 due every two weeks, with an APR (Annual Percentage Rate) of 118.25%.*
*The Annual Percentage Rate ("APR") is the cost of your loan expressed as a yearly rate. The actual APR of your loan may be higher or lower, depending on the actual amount you borrow and your actual repayment schedule.
Customer Notice: There are a wide variety of loan products available in the marketplace, so your choice of lending products should match your financial needs. Small-dollar loans used over a long period of time can be expensive.
Business Owners: Ask about special rates.
In addition, a $1.49 fee is charged on transactions over $20.
Ask your Teller for details about the prepaid debit card available at Moneytree!
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