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The minimum period for repayment is 61 days and the maximum period for repayment is 61 days. A typical fee for a $500 loan is $25, which is an annual percentage rate of 35.33% for a 61 day loan term. Often, the cost of a loan may be lower than the alternatives considered by many people, such as paying a bill late or incurring overdraft fees from banks and credit unions. For example, $1,000.00 loan with a 61 day term and a $25.00 origination fee would have a total cost including the $25.00 origination fee plus interest of $60.02 and a total payback of $1,060.02. The maximum APR is 35.92%.