4 ms·
Their interest rate is exploitative - 15% per month. So if you borrowed $100 at the beginning of the year, you'd need to repay $280 with $180 going to interest
by will_wheat_on 7y ago
Their interest rate is exploitative - 15% per month. So if you borrowed $100 at the beginning of the year, you'd need to repay $280 with $180 going to interest alone. This is their policy from their own website https://talasupport.zendesk.com/hc/en-us/articles/360021853332-What-kinds-of-fees-and-interest-does-Tala-charge- https://talasupport.zendesk.com/hc/en-us/articles/3600218533...
- fleetingmoments 7y agoNo. The 15% is a flat fee. The penalty for late repayment is an additional 8%. It doesn't compound.