The display features of these loans are pretty attractive, but many are still speculative about how these loans are charged?
They are issued for a short term of a year to the maximum of $5000 per loan.
It is the interest the borrower would pay to avail the loan.
If the APR% of the loan is 12% for a loan amount of $1000, you will be paying an interest of $10 for a month over a period of the year.
It all depends on the loan amount you avail and the loan tenure you choose.
If you can close the loan early, go for shorter tenure to keep interest payout the lowest possible.



