When it comes to borrowing there are two types of fees: Origination Fees & Late Fees
The Origination fee is only paid when the loan is activated.
By setting the fees by credit score we are lowering the cost for the average borrower on our platform and at the same time encouraging more information to provide better scores which leads to lower borrowing rates. Below you can see the fees as displayed for an average loan of approximately $1,000 USD or less
Late Fees will be charged after a loan is 5 days overdue. The Late Fee is 5% of the unpaid overdue amount with a minimum of 15 USD (bitcoin equivalent).