Rates and fees

Rates & fees

Up-front rates. No hidden fees.

Rates & fees assessed to Borrowers

All loans feature an affordable fixed rate, which means your monthly payment will never increase. Plus, you can prepay your loan at any time to eliminate future interest payment. There is no prepayment penalty or fee.

When you apply for a personal loan through goPeer, the loan offer you receive is assigned a grade ranging from A+ to E with a corresponding interest rate, origination fee and annual percentage rate (“APR”).

An APR shows you the cost of borrowing money on a yearly basis. It can help you quickly compare different loans or credit cards on an apples-to-apples basis. The APR on a personal loan through goPeer includes both the interest rate and origination fee. The origination fee is deducted from your loan proceeds, and there is no fee if you do not receive a loan. We’ll never ask for an upfront payment of any kind.

The range of interest rates, origination fees, and APRs for each loan grade is listed on the table below. You may not be eligible for the full range of rates or loan terms displayed here.

Happy borrower
36-month term 60-month term
Grade Rate Origination fee APR Rate Origination fee APR
A+ 7.2% - 8.2% 0.5% 7.5% - 8.5% 7.5% - 8.5% 3.0% 8.8% - 9.8%
A 7.8% - 8.8% 1.0% 8.5% - 9.5% 8.1% - 9.1% 4.0% 9.8% - 10.8%
A- 9.0% - 10.0% 1.5% 10.0% - 11.0% 9.4% - 10.4% 5.0% 11.5% - 12.5%
B+ 10.3% - 11.3% 2.5% 12.0% - 13.0% 11.3% - 12.3% 5.0% 13.5% - 14.5%
B 11.4% - 12.4% 3.0% 13.5% - 14.5% 12.8% - 13.8% 5.0% 15.0% - 16.0%
B- 12.6% - 13.6% 3.5% 15.0% - 16.0% 14.3% - 15.3% 5.0% 16.5% - 17.5%
C+ 15.0% - 16.0% 5.0% 18.5% - 19.5% 18.2% - 19.2% 5.0% 20.5% - 21.5%
C 16.0% - 17.0% 5.0% 19.5% - 20.5% 19.2% - 20.1% 5.0% 21.5% - 22.5%
C- 17.0% - 17.9% 5.0% 20.5% - 21.5% 20.1% - 21.1% 5.0% 22.5% - 23.5%
D+ 18.4% - 19.4% 5.0% 22.0% - 23.0% 22.6% - 23.6% 5.0% 25.0% - 26.0%
D 20.9% - 21.9% 5.0% 24.5% - 25.5% 25.0% - 26.0% 5.0% 27.5% - 28.5%
E 23.8% - 24.8% 5.0% 27.5% - 28.5% 28.0% - 28.9% 5.0% 30.5% - 31.5%

Legal: the rates shown in the table above are for illustrative purposes only, may change without prior notice, and do not reflect any actual or projected results for any investor. Actual investor results may vary. This information is not a promise of future results. This information is not presented as investment advice. goPeer does not provide investment, legal, or tax advice.

Other fees

Unsuccessful payment fee

goPeer sends a reminder every month in advance of the payment due date. There is no need to send a paper check, as we connect directly to your bank account to process your payment automatically. If an automatic payment is rejected by your bank, an Unsuccessful Payment Fee of $25 is charged to cover the cost goPeer incurs on the transaction. This could happen if there's not enough money in your bank account to cover your loan payment, your bank account has been closed, or if the account is suspended or inaccessible. We may attempt to process your automatic payment up to two additional times and each attempt that is returned unpaid is subject to an Unsuccessful Payment Fee.

Late payment fee

To account for unexpected events, you have a 15 day grace period following your monthly due date during which you can make your payment with no penalty or impact to your credit score. After the 15 day grace period, a Late Payment Fee is assessed on the 16th day to compensate investors for the delay. The amount of a Late Payment Fee is the greater of 5.0% of the unpaid installment amount, or $15. We charge this fee once per late payment. The Late Payment Fee is paid directly to investors.

Check processing fee

Processing monthly loan payments automatically is one of the many things we do to keep rates low. Handling checks costs more, so if you would like to make your loan payments via check, we charge a $7 processing fee per payment. There is no charge to make payments via direct debit from your bank account (ACH), and there's no fee for paying a loan off early (in fact that saves your money).

Fees assessed to Investors

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Servicing fee

goPeer charges a 1.5% annual servicing fee, which is applied as a 1/12th of 1.5% (0.125%) monthly fee on the unpaid principal balance of outstanding loans. This fee is deducted directly from borrower payments. goPeer does not charge any separate or additional brokerage account or transactional fees.

Collection fee

When borrowers miss payments and loans become late, goPeer's collection department makes a reasonable effort to recover the money owed to investors. If goPeer is successful in recovering the owed payment(s) that went into collection, goPeer may charge investors a collection fee of up to 35% on all amounts collected on a delinquent loan (net of legal fees and expenses), in order to cover the collection costs. Collection fees charged by goPeer or a third-party collection agency will reduce the payment amount investors receive related to the Note(s), for example, when a loan is charged off. goPeer does not charge a collection fee if no payments are collected, and no collection fee will be charged in excess of the amount recovered.