4 ms·
It depends on the loan size. If the loan is $1000 then that's 1.2% interest per month. They can make money with that, and maybe their average loan size is small
by technotony 12y ago
It depends on the loan size. If the loan is $1000 then that's 1.2% interest per month. They can make money with that, and maybe their average loan size is smaller than that in which case the effective APR is even higher.