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Prosper Ratings

Personal Loan Rates and Fees

Personal Loan Interest Rates

Loan interest rates are set by Prosper/BACF and based on factors including:

  • Prosper Rating, which is an indicator of expected loss rates
  • Loan term
  • Economic environment
  • Competitive environment

Rates can change over time. The current interest rates are:

Prosper Rating        Loan Term (yrs)      # Previous Loans      Borrower Rate         Borrower APR*

                                                                                            Minimum             Minimum

AA

AA

AA

AA

A

A

A

A

B

B

B

B

C

C

C

C

D

D

D

D

E

E

E

E

HR

HR

3

5

3

5

3

5

3

5

3

5

3

5

3

5

3

5

3

5

3

5

3

5

3

5

3

3

0

0

1+

1+

0

0

1+

1+

0

0

1+

1+

0

0

1+

1+

0

0

1+

1+

0

0

1+

1+

0

1+

6.05%

8.69%

6.05%

8.69%

9.49%

9.90%

9.49%

9.90%

13.49%

13.49%

13.49%

13.49%

16.60%

16.60%

16.60%

16.60%

20.85%

20.85%

20.85%

20.85%

25.49%

25.49%

25.49%

25.49%

29.99%

29.99%

6.73%

9.97%

6.73%

9.97%

12.27%

12.11%

12.27%

12.11%

17.09%

15.78%

17.09%

15.78%

20.27%

18.96%

20.27%

18.96%

24.61%

23.32%

24.61%

23.32%

29.36%

28.08%

29.36%

28.08%

33.97%

33.97%

Fees

There are no fees for posting a BACF borrower listing on Prosper.  Fees are only charged if your loan is funded and money is transferred to you.

Closing fee 

The closing fee is a percentage of the amount borrowed and varies by Prosper Rating:

Prosper Rating                                    3 year                                                 5 year

AA

A

B

C-HR

1.95%

3.95%

4.95%

4.95%

4.95%

4.95%

4.95%

4.95%

The closing fee is taken from the loan immediately, before loan proceeds are transferred to your account.  This means that if you're using your Prosper/BACF loan to purchase something specific (like kitchen remodeling), make sure you ask for enough to cover both the remodeling project and the closing fee.

Special circumstances

$15 failed payment fee: A failed automated withdrawal, returned check, or bank draft will result in a fee of $15.  Only one failed payment fee will be charged per payment period.  This can be due to insufficient funds, a closed account, account changes that were not reported to Prosper/BACF, or for any other reason (other than an error by us).  This fee is retained by Prosper/BACF.

Late payment fee: If a monthly payment is 15 days late, you'll be charged a late fee.  Late fees are passed on to investors.  Prosper/BACF does not retain late fees.


* For example, if you have a Prosper Rating of B and take a loan for $5000.00, then you will be charged a $247.50 closing fee.  You will then receive $4752.50 in cash deposited directly into your bank account.  If you have a B rating and no previous loans and take a 3 year loan, your interest rate will be 13.49% (17.09% APR) and your scheduled monthly payment will be $169.65.
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