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Rates & Fees

Rates & Fees 1

Quick Loans

The Basic Understanding

No one can deny the fact that times are hard and almost everyone is relying on quick loans to settle emergencies or to fund everyday expenses without having to borrow from family and friends or to go through the long and tedious loan application process associated with banks. These kinds of loans are available online, and lenders usually deposit the cash directly into the applicant’s bank account after approval.

The entire process may be conducted online and the loan decision is usually sent back within minutes. Most applicants receive their cash within one business day.

One question, however, that often runs across most applicants’ mind is how much the loan will cost them eventually in terms of rates and fees. The truth is that the answer to this question generally depends on the annual percentage rate (APR) of the amount needed.

Note: Please note that QPLoanz is not a quick loan lender. We, therefore, don’t offer quick loans, short-term loans, or payday loans. Our main intention is to connect consumers to reputable lenders that provide the above-mentioned loans.

Representative APR Range

As already mentioned, an APR generally depends on the amount needed or requested. Therefore, QPLoanz cannot provide a precise percentage for everyone. This kind of information can only be given by the lending company. In addition to APR details, the other kind of information that can only be provided by the lender includes the loan fees and the terms and conditions of the loan in question.

All in all, QPLoanz can generally state that the Annual Percentage Rate of a short-term loan may range from 200% to 2, 290%. Once again, this is just an approximation, and the exact APR will depend on the amount requested. Other factors that may determine the exact APR include the following:

  • Loan repayment duration
  • Late payment
  • Non-payment
  • Partial payment
  • Loan renewal actions
  • Loan fees

How the Annual Percentage Rate of a Small Loan ($100) Compares To Others

Please use the following table to compare the cost options of a $100 quick loan with a repayment period of 14 days:

Product Type (single repayment)ChargeAPR
NSF + Bounced Check$45.001,173.21%
Overdraft Fee$30.00782.14%
Late Fee$20.00521.43%

How Does Non-Payment Affect An APR?

Since QPLoanz is not a loan lending company, we cannot provide you with an accurate answer to this question. This is because all lenders in our network come with their own terms and conditions.

We, however, advise you to always read the terms and conditions of any loan offer very carefully before acceptance. And this advice applies to any loan offer you may come across either through our site or elsewhere. Remember that by accepting a loan offer, you also automatically accept to abide by the terms and conditions provided.

How Does Partial Payment Or Late Payment Affect An APR?

Paying a loan late of partially means that the terms and conditions of the loan have not been obeyed and as a result, additional fees may apply as a penalty. Once again, we cannot tell the exact amount of fees in penalties of late payment or partial payment can attract. We don’t follow the loan details of an applicant once we have connected him or her to a lender.

QPLoanz does not charge for its services – our aim is to connect borrowers to the most honourable and reputable lenders in the business.

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