Sail Loans 1.1.2

This review evaluates a loan application service that facilitates prompt approval and direct fund dispersal. Borrowers can complete their application to obtain up to $4,000, with a quick turnaround time. If the application is submitted before 1:30 pm CST, applicants may receive their funds on the same day, although certain restrictions may apply.

The accompanying mobile application features user-friendly tools for managing your financial profile. Users can conveniently edit their customer details, monitor savings, and review repayment options. The app also allows for seamless payment processing without the need for in-person visits. Additionally, users can access a custom Refer-A-Friend code to potentially earn extra rewards.

Loan terms offered range from 12 to 24 months with amounts from $100 to $4,000, and the maximum APR is set at 35.99%.

Repayment options include:

• Installment Payments: Borrowers can pay back the loan principal plus accrued interest in scheduled installments over the loan term.
• Full Payment: Loans can be paid back in full at any time without incurring prepayment penalties.
• Early or Partial Payment: Borrowers may make early or partial payments towards the principal without facing prepayment charges.

An illustrative example of a loan's cost features a loan amount of $1,000 with a 12-month term at an APR of 35.99%. In this scenario, bi-weekly repayments would total $46.06, resulting in total payments of $1,197.55 and a cost of $197.55 for the borrower.