Rates and Fees

At W Loans, we believe in complete transparency when it comes to our rates and fees. We want you to feel confident and informed about the cost of your payday loan, so you can make the best decision for your financial needs.

How Our Rates Work

The cost of your payday loan is based on the loan amount, the term of the loan, and the applicable state regulations. In Vermont, we strictly adhere to all state laws governing payday loans to ensure fair and ethical lending practices.

• Loan Amount: Up to $500 (maximum allowed for payday loans in Vermont).
• Loan Term: Typically 14-30 days, depending on your pay schedule.
• Annual Percentage Rate (APR): Varies based on the loan amount and term but may range between 200% and 400%, as common with short-term loans.

Sample Cost of Loan

For a $300 loan with a 14-day term:

• Finance Charge: $45
• Total Repayment Amount: $345
• Effective APR: 391%

(Note: This is an example. Your actual loan terms may vary based on the specifics of your loan agreement.)

Additional Fees

• Late Payment Fee: If your payment is not made on time, a late fee may apply, as per Vermont state regulations.
• Non-Sufficient Funds (NSF) Fee: If a payment is returned due to insufficient funds, a fee of up to $25 may apply.

Important Considerations

• Payday loans are designed for short-term financial needs and are not a long-term financial solution.
• Late payments or non-payments may result in additional fees and impact your credit score.

At W Loans, we’re committed to transparency and fairness, ensuring you have the tools to manage your financial challenges responsibly.