Rates & Fees

The main question that most people want to know the answer to is; what is the cost of taking out a personal loan?

The answer to that question is that the total cost of a personal loan will depend on the Annual Percentage Rate (APR) the lender charges you.

The range of likely Representative APR

Please be aware that GreatTrustLending does not provide short term finance and is not a lender. We make referrals on behalf of the users of our system to lenders who do provide loans of this nature. For that reason, we are unable to advise you of the APR that any lender might charge if your loan application is approved. The rate of interest charged will differ between the various lenders and the rate will also depend on your own personal circumstances. You will be advised of the APR applicable to your loan, along with the other terms and conditions, when you are redirected to the lender’s website during the application process.

Annual Percentage Rates on short term loans can vary from 200% to 2,290%. The rate you are charged will be dependent on factors such as the value of the loan, loan fees, additional charges for late payments, loan renewals and some other factors. Please remember that the finance charge will be in addition to the APR and it will be disclosed separately.

If you were wondering how the APR for a small dollar loan arrangement would compare to the other options that are available, here is an example based on a 14 day extension of credit for $100:
Product Type (single repayment) Charge APR
NSF + Bounced Check $45.00 1,173.21%
Overdraft Fee $30.00 782.14%
Late Fee $20.00 521.43%

Other considerations and implications of non-payment of loans

GreatTrustLending is not a lender of money and we do not charge the end user of this service any fees. All the lenders in our lender network provide consumers with full details of the terms and conditions of a loan in advance of the consumer signifying their acceptance of that loan. It is in your own best interest that you carefully review a lender’s terms and conditions before you take up the offer of a loan.

Implications of repaying a loan late, making only a partial payment, non-repayment of a loan.

It is important to understand that when you accept an offer of a loan from a lender you are indicating that you have agreed to repay the original amount, plus the interest, plus any fees and charges, on the date specified in the agreement. The lender will have the right to charge you additional fees should repay the loan later than the specified date. GreatTrustLending.com are not party to the loan agreement, so we are unable to provide advice on, or control, the charges levied for any type of default on the loan agreement. For more information on the policies pertaining to late payments, non-payment, and partial repayments, you should refer to the documentation provided by your lender. It is the policy of GreatTrustLending to work with lenders that are well respected and that have reasonable and fair collection policies.