Rates, Terms & Important Loan Information

Understanding loan costs before you apply is important. This page explains what to expect — but remember, all actual terms are set by the lender, not by us.

Loan Amounts

Loan amounts available through participating lenders in our network may range from $350 to $5,000. The actual loan amount you may be offered depends on the lender's review of your application, creditworthiness, income, and state of residence. Not all lenders can provide the maximum loan amount shown.

Annual Percentage Rate (APR)

Loan amounts, APR, fees, and repayment terms vary by lender, loan amount, credit profile, and state of residence. Annual Percentage Rates (APR) on loans available through Fig Loans's participating lenders typically range from 5.99% to 35.99% APR. Repayment terms range from 12 to 84 months. This range is not guaranteed and does not represent all available loan products.

Repayment Terms

Repayment terms available through participating lenders may range from 12 to 84 months, depending on the lender, loan amount, and your credit profile. Your specific repayment schedule will be set out in the lender's loan agreement. Review your monthly payment amount carefully to ensure it fits your budget before accepting any offer.

Fees

Fig Loans does not charge any fees for submitting a loan request. However, lenders may charge origination fees, which are typically deducted from your loan proceeds. Other potential fees charged by lenders may include: late payment fees, returned payment (NSF) fees, and prepayment penalties (though many lenders do not charge these). All fees must be disclosed in the lender's Truth-in-Lending Act (TILA) disclosure before you accept the loan. Review all fees carefully before signing.

Late and Missed Payments

Making late payments or missing payments on a loan can have serious consequences, including: late payment fees as specified in your loan agreement, negative impact on your credit score (lenders typically report to one or more credit bureaus), increased interest costs if your agreement includes a penalty rate, and potential referral to a collections agency. If you are having difficulty making payments, contact your lender immediately — many lenders offer hardship programs.

Consequences of Non-Payment

Failure to repay a loan according to the agreed terms may result in: the full loan balance becoming immediately due and payable, collection activity by the lender or a third-party collection agency, legal action against you by the lender, a negative mark on your credit report for up to 7 years, and wage garnishment or bank levy, depending on state law. We strongly encourage you to borrow only what you can afford to repay.

Loan Renewal and Refinancing

Some lenders may offer the option to renew or refinance your loan. Renewal or refinancing policies vary by lender and state law. In some states, loan renewals may not be permitted or may be subject to restrictions. Renewing or refinancing a loan may result in additional fees and interest costs. Review any renewal offer carefully before agreeing.

State Availability and Regulations

Loan products and the availability of loan offers vary by state. Residents of some states may not be eligible for certain loan products based on state law and lender restrictions. Fig Loans does not guarantee that loan offers will be available in your state. This service is intended for residents of the United States only.

Representative Example

The following example is for illustrative purposes only. Your actual loan terms will depend on your creditworthiness, the lender's criteria, and applicable state law.

Example: A loan of $10,000 with a 36-month repayment term and an APR of 19.99% would result in 36 monthly payments of approximately $371.64. Total amount repaid: $13,379.04. Total interest charged: $3,379.04.

This example does not represent an actual loan offer. Actual APR, payment amount, and total cost will vary.

Responsible Borrowing

Before accepting any loan offer, we encourage you to: compare offers from multiple lenders; read the full loan agreement, including all fees and the repayment schedule; make sure the monthly payment is affordable given your income and existing obligations; understand the consequences of late or missed payments; and consider whether a loan is the right financial product for your situation. If you are struggling with debt, free non-profit credit counseling is available through the National Foundation for Credit Counseling (nfcc.org) and the CFPB (consumerfinance.gov).