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:
- You only pay interest on your loan for as long as you need the money.
- You can pay back your loan at any time without additional fees or penalties.
- The earlier you pay back your loan, the less interest you pay.