Interest Rates
Cost of Your Short-Term Installment Loan
We want to ensure that you have all the information you need to make informed decisions about your loan. That’s why we detail your payment amounts, payment dates, APR, and specific fee information, including any applicable fees for late-payments and NSF/returned items, which are all highlighted in your loan agreement.
You can access this information by logging in to your account at any time to review or download copies of your loan documents. It’s important to carefully review these documents before signing to ensure that you fully understand the terms of your loan.If you have any questions about your loan or the terms outlined in your loan agreement, our Customer Success team is available to assist you 24/7 at 855-853-4392.
How To Save Money on Your Loan
Take Advantage of Our Penalty-free Early Payoff Policy!
We understand that emergencies can happen at any time, and we are here to help you. To minimize the cost of your loan, borrow only what you need and pay it off as soon as possible. Makwa Finance has no penalty fees for early payoffs. To make a payment towards your principal or to pay off your loan, log in to your account or call us at 855-853-4392.
- Borrow only the minimum amount needed
- Make extra payments toward your principal
- Repay the loan on time to avoid late fees
- Pay off the entire balance early
- Qualify for better rates as a returning customer
- Use reward points to pay down your loan
Interest Rates on Loans
Interest rate is the percentage of the principal of a loan a lender charges a borrower to make the loan. Finance charges are a broader measure of the cost of borrowing that include both interest and any applicable fees. Annual percentage rate, or APR, expresses the finance charges on a loan as a yearly rate. Finance charges are based on a consumer’s creditworthiness. A consumer’s creditworthiness is determined by several factors, including credit and payment history, income, employment, existing debt, and types of debt. The APR for your loan will be determined by the amount you choose to borrow and the length of time you choose to keep your loan outstanding. You can reduce the total cost of your loan by paying off your loan prior to your last due date on your payment schedule or by making additional payments on or between your payment due dates.
The copy of your loan details, finance charges and APR will be fully disclosed to you in your loan agreement upon approval of your loan. Contact us today to see if you qualify for one of our loans. We can assist you and present a range of loan options for which you may qualify.* Our company adheres to all federal laws and regulations that apply to short-term and online personal lending industries.
Our company does not discriminate against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of an applicant’s income derives from any public assistance program, or because an applicant has in good faith exercised any right under the Consumer Credit Protection Act.
Please note: This is an expensive form of borrowing, and it is not intended to be a long-term financial solution. These loans are designed to assist you in meeting your short-term financial needs and are not intended to be a long-term financial solution.
*All loans are subject to credit approval.
