*Loan Description: Your Kasasa Loan enables you to borrow money and to pay it back on a fixed schedule just like any other personal loan, but your Kasasa Loan also gives you the option to make prepayments (payments in excess of your scheduled monthly payments) to reduce the total amount of interest that you must pay. Unlike traditional personal loans, consumers who have met each of their required schedule payments, can borrow against these (e.g., Take-Backs™) excess funds at the same interest rate as their initial Kasasa Loan to address unexpected needs (e.g. car repairs, health issues) or take advantage of opportunities (e.g. college acceptance) that may arise. The loan’s current available credit limit will be specified in each periodic statement issued.

Loan Rates & Term: Kasasa Loans are subject to credit approval by a participating lending partner. Many factors affect credit approval and the interest rate you may receive. Upon approval, your loan’s Annual Percentage Rate (APR) will not change throughout the life of your loan, unless otherwise mutually agreed to and documented within a subsequent action form. Should your application be approved, your Kasasa Loan will begin on the day you sign the lender’s loan agreements and will continue until the maturity date or until you have a zero balance in your account.

Loan Interest Charges & Fees: Interest will begin to accrue, with no grace period, on the date advances are posted to your loan. Lenders use the daily balance method to calculate the interest on your account. Your daily balance is determined by adding any new advances to the day’s beginning balance and then subtracting any payments or credits that are made. Lenders determine your interest charges by applying a daily periodic rate (i.e. APR / 365) to each daily balance within a billing cycle. In addition to interest, you may also be charged a fee each time you are late on a scheduled payment and a fee for every payment that is returned to you for insufficient funds and for any applicable membership or participation fees.

Application of Loan Payments: All payments are applied first to any accrued interest, then to the loan’s principal, then to any outstanding fees. Any remaining funds will be applied to reduce the loan’s principal balance. Subject to applicable law, payments are applied at the lender’s discretion.

Additional Information: To qualify, a borrower must be at least 18 years old, a U.S. citizen or a permanent resident and must meet a lender’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other funding criteria. If approved, your actual rate will depend on a variety of factors including the term of the loan, your financial history, years of experience, income and other factors. Rates, fees, and terms vary by lender. Rates and terms are subject to change at any time without notice and are subject to state restrictions. Contact a loan representative from your lender for additional information, details, and loan application.