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For instance, a three-yr $10,000 loan with a Prosper Rating of AA would have an interest rate of 5.31% and a 2.41% origination fee for an annual percentage fee (APR) of 6.95% APR. A 5-year $10,000 loan with a Prosper Rating of A would have an interest rate of 8.39% and a 5.00% origination charge with a ten.59% APR. Eligibility for loans up to $40,000 is dependent upon the information provided by the applicant within the application form.<br>A shorter loan time period would possibly provide you with larger monthly repayments but itu2019ll allow you to save on curiosity. Payday loans, installment loans and auto title loans come with excessive rates and fees which might trap you in a cycle of debt.
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