Fees vary with each lender, so make sure you review the specific terms of your offer on the lending partner's website. Here are some of the most common terms & fees:
- Origination fee: A fee that is taken out from the loan amount you receive. Not all lenders charge this, but many online lenders do. This fee is included in the APR you see with your loan offer.
- Late fee: Most lenders charge a fee if your loan payment is late, though many give you a grace period.
- Unsuccessful payment fee: A fee is often charged if your payment fails (e.g. a check bounces, or your bank account has insufficient funds).
- Personal check processing fee: If you choose to pay via check rather than having the money direct debited from your bank account, it may result in a fee.