Rates, fees and what you'll actually pay
Our APR range, the fees lenders may charge, representative examples and exactly what happens if a payment is missed. All in one place, before you apply.
Lenders in the GridMoney network offer cash advances of $200 to $5,000 at 5.99% to 35.99% APR with terms of 3 to 24 months. GridMoney charges borrowers nothing. Representative example: $1,500 over 12 months at 24.99% APR is $142.56 a month and $1,710.71 in total.
Rates and terms at a glance
| Item | Detail |
|---|---|
| Loan amounts | $200 to $5,000 |
| Repayment | 3 months (91 days) to 24 months |
| APR range | 5.99% to 35.99% |
| Fee to use GridMoney | $0 |
| Origination fee | Set by lender, included in APR |
| Prepayment penalty | None with most network lenders |
| Funding | As soon as next business day if approved |
Where our APR range sits
APR range in the GridMoney network
Every lender stays under 36%
For comparison, the CFPB notes a typical payday loan fee works out to almost 400% APR, far off this scale.
Representative examples
| Amount | Term | APR | Monthly | Finance charge | Total |
|---|---|---|---|---|---|
| $200 | 3 mo | 35.99% | $70.70 | $12.11 | $212.11 |
| $500 | 6 mo | 29.99% | $90.77 | $44.63 | $544.63 |
| $1,000 | 9 mo | 27.99% | $124.47 | $120.21 | $1,120.21 |
| $1,500 | 12 mo | 24.99% | $142.56 | $210.71 | $1,710.71 |
| $2,500 | 18 mo | 19.99% | $161.90 | $414.13 | $2,914.13 |
| $5,000 | 24 mo | 35.99% | $295.21 | $2,085.05 | $7,085.05 |
| $5,000 | 24 mo | 5.99% | $221.58 | $317.93 | $5,317.93 |
Representative example: $1,500 repaid in 12 monthly payments at 24.99% APR has a monthly payment of $142.56, a finance charge of $210.71 and a total of payments of $1,710.71.
Fees a lender may charge
Origination fee
A one-time processing fee, often deducted from your deposit. Included in the APR.
Late fee
If a payment arrives after the due date or grace period, where state law allows.
Returned payment fee
If a scheduled payment bounces. Your bank may charge separately.
How your rate is set
Credit history
Recent on-time payments usually mean a lower APR.
Income and debts
How comfortably your income covers the new payment.
Amount and term
Larger or longer loans can price differently.
State law
Some states cap rates or fees.
The lender
Each lender prices risk its own way.
Origination fee
Any fee raises the APR above the interest rate.
Credit checks and reporting
- Lenders may check your credit with one or more consumer reporting agencies, using soft or hard inquiries.
- Many lenders report payments, so on-time payments may help your credit and late ones may hurt it.
- GridMoney itself doesn't make credit decisions or report to bureaus.
If you miss a payment
Missed payments can lead to late or returned-payment fees allowed by your agreement and state law, collection activity and negative reports to credit bureaus. Renewal and extension policies vary by lender.
- Call your lender before the due date. Many can move a date or set up a plan.
- Ask what any change costs before agreeing to it.
- Get the new arrangement in writing.
GridMoney doesn't service loans or collect payments. Questions about an existing loan go to your lender.
Common questions
What APR will I be offered?
Lenders in the GridMoney network offer 5.99% to 35.99% APR. Your rate depends on your credit, income, state, loan amount and term, and appears in writing before you accept.
Does GridMoney charge anything?
No. GridMoney is free for borrowers. Lenders pay us when we connect them with you, and it doesn't change your terms.
What fees might a lender charge?
Depending on the lender and state: an origination fee (included in the APR), late fees and returned-payment fees. All must be listed in your agreement.
Can I renew or extend my loan?
Policies vary by lender and state law. Your agreement explains them. Contact your lender before a due date if you need help.
Ready to see your options?
Request $200 to $5,000 in about five minutes and repay it month by month.