Loan Rates & Terms
At ApplyFastCash, we believe in being transparent about how loans work. While we are not a direct lender, we connect borrowers with a network of trusted lending partners who can offer payday loans, installment loans, and other short-term financial solutions. Loan rates and terms vary depending on your location, the lender you’re matched with, and your unique financial profile. The information below is provided as a general guide so you know what to expect before you apply.
Understanding APR (Annual Percentage Rate)
The APR represents the total cost of borrowing over a year, including interest and lender fees. Because payday and short-term loans are often for smaller amounts and shorter repayment periods, APRs may appear higher compared to traditional loans. For example, a $500 payday loan with a $75 finance charge for a 14-day term would have an APR of 391%. This doesn’t mean you’ll pay 391% in interest in one year — it’s a way to compare loan costs across different products.
State-Specific Rates and Terms
Loan limits, interest rates, and allowable fees are determined by state law. Some states cap APRs or restrict certain loan types entirely. For details on loan availability in your area, visit our State Disclosures page.
Example Loan Calculations
These examples are for illustrative purposes only and do not represent actual offers. Your exact rates, terms, and fees will be provided by your matched lender.
| Loan Amount | Term Length | Finance Charge | APR (Example) |
|---|---|---|---|
| $300 | 14 days | $45 | 391% |
| $500 | 30 days | $75 | 182% |
| $1,000 | 6 months | $300 | 60% |
Factors That Influence Rates and Terms
While state law sets the boundaries, the lender you’re matched with may consider other factors when determining your loan rate, including:
Loan type (payday loan vs installment loan)
Loan amount requested
Repayment term length
Credit history (if applicable)
Income and employment status
Early Repayment Options
Many lenders allow borrowers to repay their loans early without penalties, which may reduce the total cost of the loan. Be sure to confirm early repayment policies with your lender before finalizing your loan agreement.
Frequently Asked Questions About Loan Rates & Terms
Will applying affect my credit score?
No. Submitting your application through ApplyFastCash will not affect your credit score. Some lenders may perform a credit check as part of their approval process.
Why do payday loans have higher APRs?
Payday loans are designed for short-term borrowing, and the fees are applied over a small loan amount for a short period. This causes the APR to appear higher compared to longer-term loans.
Are there additional fees besides interest?
Some lenders may charge origination or processing fees, which will be disclosed before you accept a loan offer.
Can I repay my loan early?
In most cases, yes. Early repayment may save you money on interest.