Prosper Ratings
Personal Loan Rates and Fees
Personal Loan Interest Rates
Loan interest rates are set by Prosper/BACF and based on factors including:
Rates can change over time. The current interest rates are:
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:
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.
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.
