Micro Loan Terms:
Starting fees are $10 per $100 loaned, please talk with your Branche Agent on how you plan to use the microloan. If you are paying a utility or bill, your Branche Agent can get you better rates!
90 days to repay back the loan in full. Installment payments are set up by default for one per month. On a $500.00 loan for 90 days, the cost of borrowing is $50.00, with a total payback amount of $550.00 and an annual percentage rate of 40.6%. (* 20.3% APR on the Launch Promo)
Repayment can be done earlier, customer that repay their loans earlier are rewarded with lower fees on their next microloan and can borrow larger amounts.
Interac Online is used for repayment and will be sent each month by your Branche Agent on your payday. If you wish to pay early or change the payment schedule please contact you Branche Agent
It is important to us here at Branche to help you and we are dedicated to working with you, if you are in need of credit counselling or financial planning please talk with your Branche Agent and they will help find the best resources for your situation.