RETURNING CUSTOMER Rates

Good payment history with Bright Lending can earn you discounted rates on your next loan. 


VIP CUSTOMERS DISCOUNTED RATE EXAMPLES 

The returning customer payment schedules below illustrates the dates and amounts you would pay per your contract unless additional payments are made. We encourage customers to pay more than the contracted payment amount and pay back their loan as soon as possible to reduce the amount of finance charges.

Bright Lending also incentivizes applicants who choose automatic payments (via ACH) over payments mailed directly to us by reducing their APR by 50 percentage points. All resulting savings over the life of the loan may vary based upon loan size or pre-payment. 

 

VIP - MANUAL PAYMENT

$500 Loan Paid Bi-Weekly
21 Bi-Weekly Payments of $121.51
625% APR

VIP Gold - MANUAL PAYMENT

$500 Loan Paid Bi-Weekly
21 Bi-Weekly Payments of $103.13
525% APR

 

VIP - AUTOMATIC PAYMENT

$500 Loan Paid Bi-Weekly
21 Bi-Weekly Payments of $112.27
575% APR

$9.24 - Payment Savings With Auto Pay

$190.04 - Life of Loan Savings with Auto Pay

VIP Gold - AUTOMATIC PAYMENT

$500 Loan Paid Bi-Weekly
21 Bi-Weekly Payments of $94.12
475% APR

$9.01 - Payment Savings With Auto Pay

$189.21 - Life of Loan Savings with Auto Pay


Loan Terms

Your first scheduled loan payment will be at a minimum 7 days from your funding date.

The Annual Percentage Rate (APR) calculation below is an approximation based upon your pay frequency. The cost of your credit will be clearly disclosed to you in terms of dollar amount of finance charges and the APR according to the principles of Federal Truth in Lending regulations.

For all details of your specific loan, always refer to your signed loan agreement contract. If a payment is 5 days late a charge equal to 10% of the payment due will be applied, furthermore, a non-sufficient funds/returned item fee of $30 may be applied.

Funding 

In most cases your funds will be electronically deposited via ACH to your bank account on the next business day.

PAYMENTS

Please note: Your first scheduled payment and last scheduled payment listed on your contract may vary due to the number of days outstanding before first scheduled payment and principal balance outstanding at time of last scheduled payment.  For all account and balance inquiries visit our self-service portal at https://selfservice.brightlending.com.