To maintain our services and continue to offer affordable loans, we need to charge a fair fee for the loan provision. The loan provision fee is set as a percentage of your loan amount and the exact percentage is based on the duration of your loan. You can find detailed information about our current fees in the Price list on our webpage >>
To cover the fee, you don’t need any money upfront. We will simply add the fee to your net loan amount (this means that we will lend you the fee as well). You repay the total loan amount (net loan amount + fee) together with the payable interest with your monthly payments. To make things easier, the fee will be charged before the loan is disbursed, so you receive only the net loan amount to your bank account (you don’t have to send anything back to PeerCredit).