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Rates & Terms

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Fee Summary

The finance charge applied to your loan will be clearly disclosed, both in terms of dollar amount of interest and APR (annual interest) on your loan agreement. We provide accurate and comprehensive fee disclosures on your loan agreement in accordance with the Federal Truth in Lending Law and other regulations. Late fees, NSF (non-sufficient funds) fees, and returned items fees may also be applied and are detailed in your loan agreement.

Installment Loan Amortization Table Example

The table below shows a sample amortization table for our installment loans so you can see how rates and interest might be applied to your loan. Please note rates, interest and terms will be tailored to each individual customer and may differ substantially from the example below. Your loan terms will be fully disclosed in your loan contract.

The sample amortization table below assumes a bi-weekly payment schedule, and a $300 loan amount. Your schedule of payments, number of payments, finance fees, total payments and annual percentage rate may be different depending on several factors including your pay date frequency, your loan amount, your choice on the wire option, the date of the loan and whether or not you choose to prepay the loan or are ever late. Prior to loan closing and funding, you will be provided with a schedule of payments based upon your specific loan. APR and other terms will also be provided to you prior to loan closing and funding. Disclosures will be made according to federal truth-in-lending guidelines. Note - if you prepay the loan your finance fees may be substantially lower than the table below and we actively encourage you to prepay the loan as soon as your situation allows you to do so.

RATE TABLE

Loan Amount Number of Payments Total Finance Fees Total Principal Payments Total Payments Annual Percentage Rate
$300.00 24 $1,857.06 $300.00 $2,157.06 780%
Payment Number Beginning Loan Balance Finance Fee Payment Due Principal Payment Due Total Payment Due Ending Loan Balance
1 $300.00 $90.00 $0.17 $90.17 $299.83
2 $299.83 $89.95 $0.22 $90.17 $299.61
3 $299.61 $89.88 $0.29 $90.17 $299.32
4 $299.32 $89.80 $0.37 $90.17 $298.95
5 $298.95 $89.68 $0.49 $90.17 $298.46
6 $298.46 $89.54 $0.63 $90.17 $297.83
7 $297.83 $89.35 $0.82 $90.17 $297.01
8 $297.01 $89.10 $1.07 $90.17 $295.94
9 $295.94 $88.78 $1.39 $90.17 $294.56
10 $294.56 $88.37 $1.80 $90.17 $292.75
11 $292.75 $87.83 $2.34 $90.17 $290.41
12 $290.41 $87.12 $3.05 $90.17 $287.36
13 $287.36 $86.21 $3.96 $90.17 $283.40
14 $283.40 $85.02 $5.15 $90.17 $278.25
15 $278.25 $83.48 $6.69 $90.17 $271.56
16 $271.56 $81.47 $8.70 $90.17 $262.86
17 $262.86 $78.86 $11.31 $90.17 $251.55
18 $251.55 $75.46 $14.71 $90.17 $236.84
19 $236.84 $71.05 $19.12 $90.17 $217.72
20 $217.72 $65.32 $24.85 $90.17 $192.87
21 $192.87 $57.86 $32.31 $90.17 $160.56
22 $160.56 $48.17 $42.00 $90.17 $118.56
23 $118.56 $35.57 $54.60 $90.17 $63.96
24 $63.96 $19.19 $63.96 $83.15 $0.00

Note: To minimize the total cost of your loan, we strongly recommend taking steps to either pay off your loan off in-full or to pay as much as possible in order to reduce the principal (original debt incurred) as quickly as possible. Remember – there are no prepayment penalties.

Due Date Options

Your first payment is due on your following pay date. If that day happens to fall on a weekend or holiday, the payment will be due on either the business day immediately prior to or the business date immediately following; this will be specified in your loan agreement.

If you need to change your payment schedule for any reason, you must notify West River Cash at least two (2) business days prior to the next payment date you are scheduled to make.

Late / NSF Fees

If a payment is 3 days or more late or if your payment is returned by your bank for any reason, you will be charged $30 dollars. Please review your loan contract for further information.


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