Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Texas, personal loans can vary significantly based on the lender and the specific product. For traditional personal loans, APRs generally range from 5.99% to 35.99%. However, for short-term installment loans offered through Credit Access Businesses (CABs), costs may include both interest and CAB fees. In El Paso, local ordinances also impact loan structures, requiring that payday loans not exceed 20% of a borrower's gross monthly income and limiting the number of installments. We recommend comparing all offers carefully to understand the total cost of credit.
Annual Percentage Rate (APR)
5.99% - 35.99% (Personal Loans) / Higher for Short-Term CAB Loans
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $2,000 | 12 Months | 24.00% | $188.75 | $2,265.00 |
| $5,000 | 24 Months | 18.50% | $250.78 | $6,018.72 |
| $10,000 | 36 Months | 12.99% | $336.86 | $12,126.96 |
Representative Example: A $2,000 loan for 12 months at 24% APR would result in a monthly payment of $188.75 and a total repayment of $2,265.00. Actual rates, fees, and terms vary by lender and are based on your credit profile and state regulations.
State-Specific Information — Texas
Maximum Loan Amount: Varies by lender; El Paso ordinance limits payday loans to 20% of gross monthly income.
Rate Cap: No state cap for CAB fees; 10% for unlicensed lenders; varies for personal loans.
Regulations: Texas Finance Code Chapter 342 and 393; El Paso City Ordinance Chapter 5.18.
Licensing: Lenders and CABs must be licensed by the Texas Office of Consumer Credit Commissioner (OCCC).