At Florida Loans Now, we believe in transparency and want our customers to fully understand the costs associated with borrowing. Below, you’ll find detailed information about the rates and fees that apply to our loan products. We are committed to offering fair, competitive terms without any hidden costs.
Interest Rates
The interest rates for our loans vary depending on the type of loan, loan amount, and repayment terms. Here’s a general breakdown:
- Payday Loans: Interest rates for payday loans typically range between 15% to 25% per $100 borrowed. Rates may vary based on the loan term and your repayment ability.
- Installment Loans: For installment loans, the annual percentage rate (APR) can range from 24% to 36%, depending on the loan amount and repayment period.
- Personal Loans: Interest rates for personal loans generally range from 10% to 30% APR, depending on your creditworthiness and loan term.
- Title Loans: Title loan interest rates typically range between 20% to 35% APR, based on the value of your vehicle and your ability to repay the loan.
- Tribal Loans: Tribal loans have rates that typically range between 15% to 30% APR, depending on the loan size and term length.
Interest rates are calculated based on your loan application and other factors like the loan amount and your financial profile. We will provide you with a clear understanding of the rate before you agree to any loan.
Fees
In addition to interest rates, there may be fees associated with your loan, which vary by loan type:
Application Fees
For certain loan products, there may be a small application fee to process your request. This fee is typically $25 to $50, depending on the loan amount and complexity of your application.
Late Payment Fees
If you miss a payment or do not repay your loan on time, a late fee will be applied. This fee generally ranges from $10 to $35. We encourage all our customers to stay on top of their loan repayments to avoid these fees.
Loan Processing Fees
For some loan types, such as personal or installment loans, there may be a processing fee that ranges from $30 to $75, depending on the loan amount and term. These fees are explained during the loan agreement process.
Early Repayment Fees
While most loans from Florida Loans Now can be paid off early without penalty, some loans may include a small early repayment fee. This fee is generally 2% to 5% of the remaining loan balance and is intended to cover administrative costs.
Returned Payment Fees
In the event that a payment is returned due to insufficient funds or other issues, a returned payment fee of $25 to $40 may be charged.
Loan Terms
The terms of your loan, including the repayment period and the amount you can borrow, depend on the type of loan and your individual circumstances. Here’s a general overview:
- Payday Loans: Typically due in full on your next payday, usually within 2 to 4 weeks.
- Installment Loans: Repayment terms range from 6 months to 36 months, with fixed monthly payments.
- Personal Loans: Loan terms can range from 12 months to 60 months, depending on the loan amount.
- Title Loans: Loan terms usually last from 30 days to 12 months, based on your vehicle’s value and repayment ability.
- Tribal Loans: These loans typically come with terms ranging from 14 days to 6 months, depending on the loan amount and your financial needs.
How We Keep Costs Transparent
At Florida Loans Now, we believe in providing full transparency when it comes to rates and fees. Before you accept a loan, we will outline all applicable interest rates, fees, and repayment terms clearly in your loan agreement. You’ll always know what you’re responsible for, and there will be no surprises.
We encourage you to carefully review the terms of your loan before signing. If you have any questions about the rates, fees, or terms, our customer service team is here to help. We want to ensure you fully understand the costs and can make an informed decision.
Responsible Borrowing
We strongly advise our customers to borrow responsibly. Only take out the loan amount that you are confident you can repay. Late payments and non-repayment may result in additional fees and damage to your credit.
If you ever find yourself struggling to make a payment, please contact us as soon as possible. We may be able to offer assistance or discuss alternative repayment options to help you manage your loan.
Apply Now for Loans with Clear Terms and Competitive Rates
At Florida Loans Now, we are committed to providing our customers with transparent, competitive loan options. Apply now for fast approval and clear terms. Whether you need a payday loan, installment loan, personal loan, or title loan, we are here to help with no hidden fees and no surprises!