You’ll find out your rate upon approval, and the loan and interest payments will be consolidated as one – making it easy for you to manage your bank account activities. You can repay your loan in full at any time – with no prepayment penalties. And the loan is a fixed rate, so your costs will never increase.
Lendified seeks to provide competitive market rates for our borrowers based on the credit score appropriate for your risk. We do charge a one-time origination fee to cover the costs associated with assessing, funded and servicing your loan. This fee ranges from 1.5% to 3.5% depending on the credit risk profile of the approved applicant. (Loan Slider: Indicative interest rate of 10.99% used for demonstration purposes only).