The True Cost of Your Personal Loan2021-09-07T14:05:14-05:00

Loan Cost

Rates, Terms, and the Total Cost of Your Loan

How to Find the True Cost of Your Loan

If you’re looking at your loan offer and simply multiplying the amount of each payment by the total number of payments, you might be thinking, “Whoa, this is expensive!”

However, to determine the total cost of your loan, it’s important to look at more than interest rate, full loan term, and payment amount. You need to consider how long it will actually take you to pay back the loan.

We offer the option of paying back your loan with a term up to 24 months, though most borrowers end up paying off their loans much sooner. That’s because, with Helix:

  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.
For Example

If you only need the money for a short period of time, here’s an example of how much a loan might cost you when paying off your loan early.

Loan Amount: $800.00
Term: 18 months (39 payments)
APR: 499%*
Payments: $153.70

Day 1: Loan Agreement is signed.

Day 15: First payment of $153.70.

$153.54 Interest, $0.16 Principal

Day 29: Loan payoff of $953.35.

$153.51 Interest, $799.84 Principal

For this borrower, the total cost of the loan is $307.05.

Another Way to Save

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 each payment can decrease the amount of time it takes to pay off your loan and lower the total cost.

You can make additional payments, or pay off your loan balance, through your online client portal.

* This is not an offer to extend credit. Not all borrowers will qualify. Please refer to the specific rates and terms in your loan agreement before agreeing to take a loan with Helix by Kendall Bank.

Questions? Concerns?

We know taking out a loan is a big decision, and we want to make sure you get a loan that really works for you. If you have questions, you can find answers to frequently asked questions and get helpful information through our Loan Sense blog.

What kind of loans does Helix offer?2021-02-01T11:36:53-06:00

Helix by Kendall Bank offers no-collateral-required personal installment loans with repayment terms up to 24 months. The loan is repaid over time with a set number of scheduled payments, though you can pay off your loan or make additional payments at any time without additional fees or penalties. Get your offer >

When will I receive my money?2020-12-01T06:02:59-06:00

The exact timing depends on a few things, including how long it takes your bank to credit the payment to your account. That said, with most banks you can expect to see the money in your account based on when you sign your loan agreement:

  • If your loan agreement was signed by 11:00 am Central Time on a business day, you should receive your money by 5:00 pm the same day.
  • If your loan agreement was signed after 11:00 am (or on a weekend or bank holiday), you should receive your money by 5:00 pm Central Time the next business day.

For more information on how the funding process works and when you can expect to receive your funds, visit helixfi.com/funding.

What is Helix by Kendall Bank?2021-02-01T14:27:40-06:00

Helix by Kendall Bank is a brand of Kendall Bank, offering fixed-rate personal loans designed to help you quickly deal with unexpected expenses, successfully make payments, and build credit.

All loans are issued and serviced by Kendall Bank, Missouri Branch, Member FDIC.

Is there a penalty or fee for early payment?2020-11-30T21:01:43-06:00

We never charge fees or penalties for making additional payments, which is why most of our borrowers end up paying off their loans well in advance. By paying early, you can significantly reduce the amount of interest you pay.

For an example of how much you can reduce your total cost by paying off early or making additional payments, visit helixfi.com/cost.

You can make additional payments on principal or pay off your balance in full (with no penalties or fees) anytime through your client portal at secure.helixfi.com/login.

How can I reduce the total cost of my loan?2020-10-08T15:50:47-05:00

There are no fees or penalties for paying off your loan early. In fact, we encourage you to make additional payments whenever possible. The sooner you pay your loan in full, the more you save. See how you can lower your cost >

More Answers >

Still have questions about Helix personal loans? Contact one of our friendly loan advisors.

Call: 800.619.5309
8am-5pm Central Time, Monday-Friday

Email: info@helixfi.com

What kind of loans does Helix offer?2021-02-01T11:36:53-06:00

Helix by Kendall Bank offers no-collateral-required personal installment loans with repayment terms up to 24 months. The loan is repaid over time with a set number of scheduled payments, though you can pay off your loan or make additional payments at any time without additional fees or penalties. Get your offer >

When will I receive my money?2020-12-01T06:02:59-06:00

The exact timing depends on a few things, including how long it takes your bank to credit the payment to your account. That said, with most banks you can expect to see the money in your account based on when you sign your loan agreement:

  • If your loan agreement was signed by 11:00 am Central Time on a business day, you should receive your money by 5:00 pm the same day.
  • If your loan agreement was signed after 11:00 am (or on a weekend or bank holiday), you should receive your money by 5:00 pm Central Time the next business day.

For more information on how the funding process works and when you can expect to receive your funds, visit helixfi.com/funding.

What is Helix by Kendall Bank?2021-02-01T14:27:40-06:00

Helix by Kendall Bank is a brand of Kendall Bank, offering fixed-rate personal loans designed to help you quickly deal with unexpected expenses, successfully make payments, and build credit.

All loans are issued and serviced by Kendall Bank, Missouri Branch, Member FDIC.

Is there a penalty or fee for early payment?2020-11-30T21:01:43-06:00

We never charge fees or penalties for making additional payments, which is why most of our borrowers end up paying off their loans well in advance. By paying early, you can significantly reduce the amount of interest you pay.

For an example of how much you can reduce your total cost by paying off early or making additional payments, visit helixfi.com/cost.

You can make additional payments on principal or pay off your balance in full (with no penalties or fees) anytime through your client portal at secure.helixfi.com/login.

How can I reduce the total cost of my loan?2020-10-08T15:50:47-05:00

There are no fees or penalties for paying off your loan early. In fact, we encourage you to make additional payments whenever possible. The sooner you pay your loan in full, the more you save. See how you can lower your cost >

More Answers >

Still have questions about Helix personal loans? Contact one of our friendly loan advisors.

Call: 800.619.5309
8am-5pm Central Time, Monday-Friday

Email: info@helixfi.com

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Loan Sense Blog > 

Kendall Bank

Loans are issued by Kendall Bank,
Missouri Branch, Member FDIC.  

4149 Pennsylvania Ave, Suite 102
Kansas City, MO 64111

IMPORTANT DISCLOSURES

This is an expensive form of borrowing and it is not intended to be a long term financial solution. Please note: Helix by Kendall Bank loans are designed to assist you in meeting your short-term borrowing needs and are not intended to be a long term financial solution. Examples of emergency reasons why these loans might be used include unexpected emergencies, car repair bills, medical care, or essential travel expenses. Alternative forms of credit, such as a credit card cash advance, personal loan, home equity line of credit, existing savings or borrowing from a friend or relative, may be less expensive and more suitable for your financial needs.

Late fees and non-sufficient funds/returned item fees may apply as described in your Loan Agreement. Our fees are disclosed in your loan agreement. Loan amounts range from $200 to $4,000 with a repayment term up to 24 months. Annual Percentage Rates range from 36% to 499%. If you do not make a payment on time, we will attempt to contact you via one or more authorized methods. We adhere to the principles of the federal Fair Debt Collection Practices Act (FDCPA). Because we may report your payment history to one or more credit bureaus, late or non-payment of your loan may negatively impact your credit rating. If you fail to repay your loan in accordance with its terms, we may place your loan with or sell your loan to a third-party collection agency or other company that acquires and/or collects delinquent consumer debt.

As part of our information collection process, we may detect additional bank accounts under the ownership of the consumer. We will consider these additional accounts to be part of the application process. Kendall Bank reviews your information in real-time to determine whether your information meets its lending criteria. You acknowledge that by completing and submitting the website application that you are applying for a loan. We verify applicant information through national databases, and we may pull your credit in order to determine your eligibility and ability to repay.

Availability of loans are subject to change at any time at the sole discretion of Kendall Bank.

Helix by Kendall Bank is a brand of Kendall Bank. All loans are issued and serviced by Kendall Bank, Missouri Branch, Member FDIC.

Helix
info@helixfi.com
800.619.5309

Facebook Instagram LinkedIn

QUICK LINKS

RESOURCES

© Copyright 2021 Helix by Kendall Bank. All rights reserved.

Kendall Bank

Loans are issued by Kendall Bank,
Missouri Branch, Member FDIC.  

4149 Pennsylvania Ave, Suite 102
Kansas City, MO 64111

IMPORTANT DISCLOSURES

This is an expensive form of borrowing and it is not intended to be a long term financial solution. Please note: Helix by Kendall Bank loans are designed to assist you in meeting your short-term borrowing needs and are not intended to be a long term financial solution. Examples of emergency reasons why these loans might be used include unexpected emergencies, car repair bills, medical care, or essential travel expenses. Alternative forms of credit, such as a credit card cash advance, personal loan, home equity line of credit, existing savings or borrowing from a friend or relative, may be less expensive and more suitable for your financial needs.

Late fees and non-sufficient funds/returned item fees may apply as described in your Loan Agreement. Our fees are disclosed in your loan agreement. Loan amounts range from $200 to $4,000 with a repayment term up to 24 months. Annual Percentage Rates range from 36% to 499%. If you do not make a payment on time, we will attempt to contact you via one or more authorized methods. We adhere to the principles of the federal Fair Debt Collection Practices Act (FDCPA). Because we may report your payment history to one or more credit bureaus, late or non-payment of your loan may negatively impact your credit rating. If you fail to repay your loan in accordance with its terms, we may place your loan with or sell your loan to a third-party collection agency or other company that acquires and/or collects delinquent consumer debt.

As part of our information collection process, we may detect additional bank accounts under the ownership of the consumer. We will consider these additional accounts to be part of the application process. Kendall Bank reviews your information in real-time to determine whether your information meets its lending criteria. You acknowledge that by completing and submitting the website application that you are applying for a loan. We verify applicant information through national databases, and we may pull your credit in order to determine your eligibility and ability to repay.

Availability of loans are subject to change at any time at the sole discretion of Kendall Bank.

Helix by Kendall Bank is a brand of Kendall Bank. All loans are issued and serviced by Kendall Bank, Missouri Branch, Member FDIC.

Helix
info@helixfi.com
800.619.5309

Facebook   Instagram   LinkedIn

QUICK LINKS

RESOURCES

© Copyright 2021 Helix by Kendall Bank. All rights reserved.