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Rates and Fees
At Sacramento Payday Loans, transparency is key. We believe in providing clear and straightforward information about the costs associated with your loan. Below, you’ll find important details about the rates and fees for our services, so you can make an informed decision.
Interest Rates
The interest rates for our loans vary based on the loan amount, duration, and your individual qualifications. Our typical annual percentage rate (APR) ranges from 200% to 400%. The exact rate will be disclosed during the application process, ensuring you understand all costs before you commit.
Loan Terms
- Loan Amount: $100 – $1,000
- Loan Duration: 14 days to 30 days
- Repayment Terms: All loans must be repaid in full by the agreed-upon date, which will be clearly outlined in your loan agreement.
Fees
We charge a flat fee based on the amount borrowed. Below is a breakdown of the typical fee structure:
- Loans up to $250: $15 per $100 borrowed
- Loans between $251 and $500: $12 per $100 borrowed
- Loans between $501 and $1,000: $10 per $100 borrowed
For example, if you borrow $300 for a 14-day period, you’ll pay a fee of $36 (3 x $12), in addition to repaying the original loan amount.
Late Payment Fees
If you are unable to repay your loan on time, a late payment fee may be applied. Late fees typically range from $15 to $30, depending on the size of the loan. We encourage all borrowers to contact us immediately if they anticipate any issues with repayment.
Renewal and Extension Fees
We do not automatically renew or extend loans. If you need an extension, please contact us before your due date to discuss your options. Extension fees may vary, but all terms will be clearly communicated.
No Hidden Fees
At Sacramento Payday Loans, we promise no hidden fees. All fees, rates, and terms will be clearly outlined in your loan agreement, so you always know exactly what to expect.
Important Considerations
Payday loans are designed for short-term financial needs and are not intended as long-term solutions. Borrow responsibly and ensure you fully understand the terms and costs associated with your loan.