Yes, OppLoans requires a monthly payment if you get one of their personal loans. OppLoans offers personal loans of $500 - $4,000 that borrowers need to repay in equal monthly installments over the course of Up to 18 months. These loans have an APR range of 59% - 160%, no origination fee and no hard inquiry into your credit history when you apply. You can see an example monthly payment for an OppLoans personal loan below.
Example Monthly Payment for an OppLoans Personal Loan
Loan Terms: $2,000 loan with an APR of 120% and a repayment period of 12 months
You can pay OppLoans monthly or twice per month, depending on the terms of your loan. Payments can be made using an electronic bank transfer, paper check or debit card, and OppLoans’ full repayment terms range from six months to three years. You can find more details below.
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