When looking at how much your Helix installment loan will cost, there are three important things to consider:
1. You only pay interest on your loan for as long as you need the money.
2. You can pay back your loan at any time without additional fees or penalties.
3. The earlier you pay back your loan, the less interest you pay.
With that flexibility, most customers with Helix installment loans end up paying off their loans well in advance of their full term, which significantly lowers the total cost.
If you’re not sure how long it will take you to pay back the loan but still want to reduce the amount of interest you end up paying, you can make additional payments any time. Even an extra $20 with each payment can decrease the amount of time it takes to pay off your loan and lower the total cost.