Delaware Personal Loans

Minute Loan Center works harder to Say YES! To get you the funds you need.

Line of Credit

Similar to a credit card, it gives you the ability to access funds when you need them. You can take an advance against your credit line, pay down, and borrow more as you need it, up to your credit limit.

 

Online Line of Credit Questions:

How much money can I borrow?

Delaware residents may be eligible to receive a credit line up to $5,000.

How much does an advance cost?

The Minute Loan Center Line of Credit fees are determined by taking accrued Fees and Charges that as of the Closing Date of the Billing Cycle, plus five percent (5%) of the outstanding Advance balances up to $1,499.99, plus three percent (3%) of the outstanding Advance balances above $1,500.00. Remember, by paying on time or paying more than the minimum balance, you can save money and have more credit available when you need it!

When will my loan be due?

We want to make this convenient for you. You can choose to schedule automatic payments on your statement due date or can choose to have your statement’s minimum payment divided and presented on your pay dates. Choosing the pay date option makes it generally easier to manage your budget.

How can I get more cash?

As long as your Minute Loan Center online line of credit is active, you will be able to take advances up to your credit limit at anytime. When you pay down your advances, you immediately get access to more funds.

 

Minute Loan Center
Itemization of Charges – Revolving Credit

 

Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Advances
 For balances up to $5,000, between 179.00% and 701.5625%, depending
on your creditworthiness.
Paying Interest
 We will begin charging interest on advances on the transaction date.
Fees
Set-up and Maintenance Fees

Account Set-up Fee

Annual Fee

$9.95 (one-time fee)

$24.95

Transaction Fees
Advance Fee Either 10% or $1 of each Advance, whichever is greater.
Penalty Fees

Late Payment

$30
Other Fees

Credit Limit Increase Fee

Paper Statement Delivery Fee

$4.95 each time we agree, at your request, to increase the credit limit.

$9.95 for each paper statement we print and mail to you, if you cancel or
withhold consent for us to prepare and deliver electronic statements.

Interest Charges for Advances

Your Account is subject to Interest Charges (periodic rate Finance Charges). The Interest Charges for Advances are based on the Annual Percentage Rate(s) and corresponding Daily Periodic Rate(s) we include in your Account Opening Disclosures. We figure the Interest Charges on your Account by applying the Daily Periodic Rate to the “Daily Balance” of unpaid Advances in your Account for each day in the Billing Cycle. To get the “Daily Balance,” we take the beginning balance of your Account each day, add any new Advances, and subtract any unpaid Interest Charges, Fees and Other Charges, and any payments or credits. This gives us the “Daily Balance.” Then, we multiply the Daily Balance for each day by the Daily Periodic Rate to obtain the “Daily Interest Charge” for the day, rounding the Daily Interest Charge to the nearest whole cent. At the end of each Billing Cycle, we add together the Daily Interest Charges for each day in the Billing Cycle to determine the total Interest Charges due for your Account during the Billing Cycle.

 

Installment Loans

This product extends credit up to $1,000 with flexible repayment options for up to 9 months. It offers low rates and the ability to obtain more frequent advances if needed.

 

Installment Loans are the go-to solution for your borrowing needs with low rates and flexible repayment options.
Installment loans are an especially useful resource for those who wish to:
  • Consolidate other loans into one low and easy payment
  • Buy furniture, electronics, or appliances versus renting them
  • Assist with down payments for cars, boats, housing, or other substantial items
  • Assist with unexpected bills

 

Installment Loan Fee Schedule as of November 6, 2020

Amount Financed # of Payments Payment Frequency Payment Amount Final Payment Amount Interest Total Total Loan Amount APR
$100.00 6 Bi-Weekly $26.79 $26.82 $60.77 $160.77 403.47%
$700.00 6 Bi-Weekly $207.39 $207.44 $544.39 $1,244.39 504.54%
$400.00 10 Bi-Weekly $83.66 $83.87 $436.81 $836.81 423.66%
$800.00 10 Bi-Weekly $186.98 $186.98 $1,069.80 $1,869.80 504.54%
$600.00 15 Bi-Weekly $113.06 $113.22 $1,096.06 $1,696.06 443.88%
$1,000.00 15 Bi-Weekly $191.76 $192.10 $1,876.74 $2,876.74 453.99%
$700.00 20 Bi-Weekly $124.84 $125.26 $1,797.22 $2,497.22 443.88%
$1,000.00 20 Bi-Weekly $129.81 $129.74 $1,896.13 $2,896.13 464.09%
$1,000.00 33 Bi-Weekly $119.44 $121.11 $2,943.19 $3,943.19 302.32%
$5,000.00 33 Bi-Weekly $597.22 $598.76 $14,709.80 $19,709.80 302.32%

Example assumes exact period terms for a 14-day Bi-Weekly pay cycle. The finance charge includes fees charged based on a Tiered Contractual APR which can range between 238% to 519%.

Examples listed MAY have an OPTIONAL fee assessment for ACH services of $1.00. See associate for details.

Examples listed MAY have an OPTIONAL fee assessment for Minute Money services of $9.95. See associate for details.

Minute Loan Center reserves the right as outlined in section 8 of the loan agreement that in the event a payment is late by Five (5) days or more, we MAY assess a 5% fee on the unpaid portion of the payment.

Minute Loan Center reserves the right in the event a payment is returned for Insufficient Funds, we MAY assess a $25 fee for the returned item.

Examples are assumed based on exact on-time payments. Finance charges will differ from examples if payments are made before the scheduled due date or after the scheduled due date.

Premier Loans

Minute Loan Center offers a large scale loan for consumers – the “Premier Loan”. This product carries a borrowing maximum of $5,000. Repayment can be made in small, flexible increments over a 15-month term.

Premier loans are an especially useful resources for those who wish to:
  • Consolidate other loans into one low and easy payment
  • Buy furniture, electronics, or appliances versus renting them
  • Assist with down payments for cars, boats, housing, or other substantial items
  • An alternative to refinancing your home or second mortgages