Loan Terms & Conditions
Please read these terms carefully before proceeding with your loan application
Loan Agreement
By proceeding with this loan application, you agree to the following terms and conditions that govern your loan relationship with PayExon Bank.
Interest Rates & Fees
Interest rates are determined based on your creditworthiness and may range from 5.99% to 29.99% APR. Additional fees may apply including:
- Origination fee: 1-5% of loan amount
- Late payment fee: $25
- Returned payment fee: $15
- Prepayment penalty: None
Repayment Terms
Loan terms range from 12 to 60 months. Monthly payments are due on the same date each month. Late payments may affect your credit score and result in additional fees.
Security & Privacy
Your personal and financial information is protected by bank-level security measures. We use encryption and secure servers to protect your data. Your information will never be sold to third parties.
Default & Collection
Failure to make payments may result in default. Defaulted loans may be sent to collection agencies and reported to credit bureaus, which will negatively impact your credit score.
Prepayment
You may prepay your loan in full or in part at any time without penalty. Prepayment will reduce the total interest you pay over the life of the loan.
Contact Information
For questions about your loan or these terms, contact our customer service team at support@payexon.com or call 1-800-PAYEXON during business hours.