Rates & Fees
At Gold Scepter Finances LLC, we believe in transparency. Below you will find detailed information about our loan products, example rates, fees, and tips for understanding the cost of borrowing. Please note that Gold Scepter Finances LLC is a loan comparison and referral platform, not a direct lender. The actual rates, fees, and terms you receive are determined by the third-party lenders in our network based on your credit profile, income, and other factors.
Loan Amounts
Personal loans are available from $100 to $5,000. The amount you qualify for depends on your credit profile, income, employment status, and the specific criteria of each lender in our network. Not all applicants will qualify for the maximum amount. Borrowing only what you need can help you manage debt more effectively and reduce the total interest you pay.
Repayment Terms
Repayment terms range from 3 to 24 months, giving you flexibility to choose a term that fits your budget and repayment goals. Shorter terms typically result in higher monthly payments but lower total interest paid. Longer terms may offer lower monthly payments but generally result in higher total interest over the life of the loan.
APR Range
The Annual Percentage Rate (APR) ranges from 5.99% to 35.99% depending on your creditworthiness, income, loan amount, term, and the lender you are matched with. Borrowers with stronger credit profiles typically qualify for lower APRs. The APR is the rate used to calculate the total cost of your loan, including interest and certain fees.
Example Loan Scenarios
The following table shows example loan scenarios for different amounts and terms. These examples are for illustrative purposes only and do not represent actual offers. Actual rates, monthly payments, and total repayment amounts depend on your credit profile, the lender you are matched with, and other factors. Your loan agreement will contain the exact terms for your loan.
The examples assume monthly payments of principal and interest over the stated term. They do not include origination fees, late fees, or other charges that may apply. Always review your loan agreement for the complete cost of your loan.
| Loan Amount | Term | APR (Example) | Monthly Payment | Total Repayment |
|---|---|---|---|---|
| $500 | 6 months | 24.99% | $89.50 | $537.00 |
| $500 | 12 months | 24.99% | $47.25 | $567.00 |
| $2,000 | 12 months | 19.99% | $184.25 | $2,211.00 |
| $2,000 | 24 months | 19.99% | $101.50 | $2,436.00 |
| $5,000 | 24 months | 14.99% | $241.00 | $5,784.00 |
Fees
Lenders in our network may charge various fees. The specific fees for your loan will be disclosed in your loan agreement before you accept. Always review all loan documents carefully. Common fees include:
- Origination Fees: Some lenders charge an origination fee, which is a one-time fee charged when the loan is funded. This fee may be a percentage of the loan amount or a flat fee. Origination fees are typically deducted from the loan proceeds, so the amount you receive may be less than the loan amount you requested.
- Late Payment Fees: If you miss a payment or pay after the due date, the lender may charge a late fee. The amount of the late fee varies by lender and may be a flat fee or a percentage of the monthly payment. Late payments may also be reported to credit bureaus and can negatively impact your credit score.
- Returned Payment Fees: If a payment is returned due to insufficient funds, a closed account, or other reasons, the lender may charge a returned payment fee. This fee can be substantial, so it is important to ensure you have sufficient funds in your account before the payment date.
- Non-Sufficient Funds (NSF) Fees: Similar to returned payment fees, NSF fees may be charged when a payment cannot be processed due to insufficient funds in your account.
- Prepayment Fees: Some lenders charge a fee if you pay off your loan early. If you plan to pay off your loan early, check whether your lender charges a prepayment penalty.
Gold Scepter Finances LLC does not charge fees for using our comparison and referral service. We are compensated by lenders when we successfully refer you to them. This does not affect the rates or fees you are offered by the lender.
Understanding APR
The Annual Percentage Rate (APR) is a standardized rate that represents the total cost of borrowing over one year, including interest and certain fees. It allows you to compare the cost of different loan offers on an equal basis. A lower APR generally means a lower cost of borrowing. Here are important points to understand about APR:
- Compare APRs When Evaluating Offers: When comparing loan offers from different lenders, the APR is one of the most useful metrics. A loan with a lower APR will typically cost you less over the life of the loan, assuming all other terms are the same.
- APR Includes Both Interest and Certain Fees: Unlike a simple interest rate, the APR reflects the total cost of the loan, including the interest rate and certain fees (such as origination fees) that are typically charged upfront. This gives you a more complete picture of the true cost.
- Your Actual APR Depends on Multiple Factors: Your credit history, income, employment status, loan amount, and repayment term all affect the APR you are offered. Borrowers with stronger credit profiles typically qualify for lower APRs.
- Longer Terms May Mean More Total Interest: While longer repayment terms often result in lower monthly payments, they typically result in higher total interest paid over the life of the loan. Consider the trade-off between monthly affordability and total cost.
- APR Assumes You Keep the Loan for the Full Term: The APR is calculated assuming you make all payments on time and keep the loan for the full term. If you pay off the loan early, your actual cost may be different, especially if there are prepayment fees.
State-Specific Information
Loan products, rates, and terms may vary by state. Some states have laws that limit or cap interest rates and fees. Not all loan products are available in all states. If you are matched with a lender, that lender will provide you with state-specific disclosures and terms that apply to your loan.