At Loans Like BMG Money, we believe in transparency and providing our customers with clear information about our rates and fees. Below, you'll find details about the costs associated with our payday loans.
Our interest rates are designed to be competitive and fair. The Annual Percentage Rate (APR) for our payday loans ranges from 19.99% to 35.99%. The exact rate you receive will depend on various factors, including the loan amount and repayment terms.
We offer payday loans ranging from $100 to $5,000. The amount you can borrow will depend on your financial situation and our assessment of your ability to repay the loan.
Our repayment terms are flexible to accommodate your financial needs. Loan terms typically range from 6 to 36 months for federal employees and 6 to 48 months for private workers. Specific terms will be provided during the application process.
We strive to keep our fees straightforward and reasonable. Here are some of the common fees associated with our loans:
Origination Fee: A one-time fee charged for processing your loan application. This fee varies based on the loan amount and will be disclosed during the application process.
Late Payment Fee: If you miss a payment, a late fee may be applied. The amount of this fee will be specified in your loan agreement.
Prepayment Penalty: We do not charge any prepayment penalties. You can repay your loan early without incurring additional fees.
To help you understand the potential costs, here is an example of a typical loan:
Loan Amount: $1,000
APR: 25%
Repayment Term: 12 months
Monthly Payment: $93.33
Total Repayment Amount: $1,120
No Credit Check: We do not perform traditional credit checks, making our loans accessible to a wider range of borrowers.
Automatic Payments: Repayments are typically made through automatic debits from your bank account on your payday.
If you have any questions about our rates and fees, please contact our customer support team at 1-844-546-4391 or email us at support@loanslikebmgmoney.com. We are here to help you understand all aspects of your loan and ensure you have a positive borrowing experience.
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