When you apply for a personal loan you are able to determine how long you want your payback period to be. For personal loans, you are able to select a payback period between 12 and 24 months.
Selecting a shorter payback period means you will have larger monthly payments than a loan with a longer payback period, but of course, you will pay your loan back quicker with a shorter payback period. To learn more about how personal loans work, read through our Personal Loan Page.
Michigan Regulatory Loan License (RL-0020249), effective February 12, 2016,issued by Department of Insurance and Financial Services.Contact info: Office of Consumer Finance, 530 W. Allegan Street, 7th Fl., Lansing, MI 48933-1521