Rates, terms and operation of the GoPeer loan
As we mentioned earlier, the GoPeer application process is designed to be fully online and fast. The fintech uses technology to analyze your credit profile and match you with the platform’s investors (the “peers”).
In the case of GoPeer, the interest rates applied are transparent and based on your profile. On the GoPeer loan page, the intermediary institution states that values may range from $1,000 to $35,000, with payment terms between 3 and 5 years.
And pay attention: everything will depend on your credit analysis to determine the interest rate, but the platform informs that APR may range between 8.99% and 34.99%. In cases of delays or default, the company may charge a fee of 50 Canadian dollars. And, if payment is pending for more than 30 days, a late fee of 25 Canadian dollars or 5% of the total amount due will apply, whichever is greater.
Advice for you
When applying for the GoPeer loan, take advantage of the simulation to check what the total interest will be over the term. It is possible to see this during the website simulation, but with the formal proposal it must be evaluated carefully and thoroughly.
Finally, remember that long repayment terms compromise your income for a longer period. That is, you must pay attention to the installments to avoid delays and interest charges, agreed? Responsible use of this loan can also help build a positive credit history in Canada.
How to apply for the GoPeer loan?
To start your application process, know that everything can be done online through the official GoPeer website. Click the button below to be redirected to the loan page and start your simulation right now! Remember that the response may be between 24 and 48 hours, okay?
