Interest Rates
Understand Your Rate
Your Short-Term Installment Loan
Lendumo strives to ensure that our valued customers have all the necessary information to make informed decisions regarding their loans. This includes providing detailed information on payment amounts, payment dates, APR, and any applicable fees for late payments or returned items, all of which are outlined in your loan agreement.
We urge you to take the time to carefully review your loan documents before signing to ensure your understanding of the loan terms. You may access your loan agreement at any time by logging in to your account. Should you have any questions or concerns, our friendly customer service agents are readily available to assist you at 877-558-1999.
Ways To Reduce The Cost of Your Loan
Benefits of Penalty-Free Early Payoff
We recognize that unexpected situations can arise at any moment, and we are available to provide assistance. To reduce the expenses associated with your loan, we suggest borrowing only the necessary amount and repaying it promptly. Lendumo doesn't charge any penalty fees for early repayments. To submit a payment towards your principal balance or pay off your loan, please access your account online or contact us at 877-558-1999 at least three days before your intended payment date.
- Pay the loan on time to avoid late fees
- Borrow only the minimum amount needed
- Use U Reward points to pay down your loan
- Pay off the entire balance early
- Qualify for better rates as a returning customer
- Make additional payments toward your principal
Know Your Rates
Interest Rates on Loans
Interest rate is the percentage of the principal of a loan a lender charges a borrower to make the loan. Finance charges are a broader measure of the cost of borrowing that include both interest and any applicable fees. Annual percentage rate, or APR, expresses the finance charges on a loan as a yearly rate. Finance charges are based on a consumer’s creditworthiness. A consumer’s creditworthiness is determined by several factors, including credit and payment history, income, employment, existing debt, and types of debt. The APR for your loan will be determined by the amount you choose to borrow and the length of time you choose to keep your loan outstanding. You can reduce the total cost of your loan by paying off your loan prior to your last due date on your payment schedule or by making additional payments on or between your payment due dates.
The copy of your loan details, finance charges and APR will be fully disclosed to you in your loan agreement upon approval of your loan. Contact us today to see if you qualify for one of our loans. We can assist you and present a range of loan options for which you may qualify.* Our company adheres to all federal laws and regulations that apply to short-term and online personal lending industries.
Our company does not discriminate against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of an applicant’s income derives from any public assistance program, or because an applicant has in good faith exercised any right under the Consumer Credit Protection Act.
Please note: This is an expensive form of borrowing, and it is not intended to be a long-term financial solution. These loans are designed to assist you in meeting your short-term financial needs and are not intended to be a long-term financial solution.
*All loans are subject to credit approval.
