Understanding our rates: everything you need to know!
No more bad surprises. We are committed to providing you with all the necessary information regarding the cost of your loan before you apply. Here, you will find clear details on our Annual Percentage Rate (APR), repayment examples, and conditions. With DMO Credit, you get the straight facts: clear pricing for a fast and honest solution.
Our Annual Interest Rates
The annual interest rate varies between 28% and 35%, depending on the loan term. The maximum APR is 35%
For a $500 cash loan, the interest amount ranges between $35 and $40 over a period of 3 months.
Our Repayment Period
- Repayment can be done over a 12 weeks period. There are no minimum period. You can repay your loan the day after
- Withdrawals are made weekly, bi-weekly, monthly, or semi-monthly.
- Payments are by pre-authorized debit from your bank account scheduled weekly, biweekly, bimonthly or monthly
We offer early repayment!
Our loans are open loans, so you have the option to repay at any time, without any penalty.
Our loans are open so you have the option to repay at any time without penalty If you repay your loan within the first month following the deposit date, we will also give you a $100 discount on the associated costs
In Case of Payment Default
As stated in the contract, a $50 fee will be charged for any payment returned by the bank.
If more than a quarter of the payments are returned by the bank, the debt may be transferred to collections.
We suggest you call us immediately as soon as you notice that a payment has been returned by the bank.
