Personal Loans Rates & Fees
Personal Loans Rates & Fees
Competitive rates & fixed monthly payments
How we determine your APR
We determine your annual percentage rate (APR) based on several factors, such as your credit history and rating, the amount you want to borrow, and your total debt-to-income ratio. We then present you with a loan offer(s) based on what you can qualify for.
How rates and fees work
Interest Rate
What you pay in interest annually, shown as a percentage of the total amount borrowed.
Origination/Processing Fee
One-time fee of 0.00% to 8.00% of your loan amount based on your credit rating, and charged only when you receive your loan.
Annual Percentage Rate (APR)
The total annual cost of your loan, including interest rate and origination fee, and the true cost of borrowing money. Use APR to compare loan costs across lenders.
Monthly payment examples
| Term | Loan Amount | Interest Rate | Origination Fee | Origination Fee Amount | APR | Amount Deposited | Monthly Payment |
|---|---|---|---|---|---|---|---|
| 24 | $10,246 | 14% | 5% | $532 | 18% | $9,714 | $493 |
| 36 | $18,062 | 12% | 5% | $923 | 15% | $17,140 | $598 |
| 48 | $18,143 | 13% | 6% | $1,081 | 16% | $17,062 | $483 |
| 60 | $21,233 | 13% | 6% | $1,292 | 17% | $19,941 | $486 |
| 72 | $25,235 | 9% | 6% | $1,517 | 11% | $23,718 | $450 |
Your actual monthly payment will vary based on the terms and conditions of your loan offer (which includes your APR, loan amount, term, and origination fee). The example above is based on loan terms offered from May-July 2024 and is provided for illustrative purposes only; your experience may be different.
What our members are saying
"Great customer service, great rates, unbeatable payback options and above all a company that I trust."
—Dana, a member from Florida
Frequently asked questions
How can I use a personal loan?
A personal loan lets you borrow what you need for almost any purpose, with a few exceptions. Happen Bank members often use personal loans to pay off credit cards at a lower rate, consolidate debt, or take care of unexpected costs.
A few ways a personal loan from Happen Bank cannot be used include anything related to education after high school, making investments (such as securities or cryptocurrency), or funding any illegal activity.
What happens after I check my rate?
Choose your offer
You’ll be able to select the loan amount, interest rate, APR, monthly payment, and loan term.
Confirm your information
We ask for your Social Security number and details on your income and employment. If we need any other documents or information, we'll let you know in your to-do list. Then, hold tight while we look for your investors on our marketplace and wrap up your loan.
Get funded
Once your loan is approved, we’ll send the money straight to your bank account, and/or pay your creditors directly if you choose this option.
What’s the best way to compare loan offers?
The best way to do compare loan offers from different lenders is by looking at the annual percentage rate (APR) for each. APR is the best way to quickly compare the total annual cost to borrow money from different lenders because APR includes all finance charges: interest rate and fees.
A no-fee or low-interest rate loan may look appealing at first sight. However, it’s important you carefully consider the total cost of borrowing money (which means all finance charges, not just interest rate alone) before settling on a loan offer.
What’s the difference between a fixed rate and a variable rate?
The difference between a fixed rate loan and a variable rate loan is the interest rate on a fixed rate loan won’t change, while it will on a variable rate loan. All personal loans offered by Happen Bank are fixed rate loans.
With a fixed rate loan, your interest rate, APR, and monthly payment are fixed, meaning these all remain the same over the course of your loan. On a variable rate loan, the interest and APR may change as the market interest rate changes, resulting in you paying more (or less) interest from month-to-month as well as fluctuations in your monthly payment.
What’s the difference between a loan origination/processing fee and an application fee?
The biggest difference is a loan application fee is charged (and paid) when you apply for a loan (before you know if your loan will be approved), and an origination/processing fee happens only when you receive your loan funds after you’ve been approved.
Some lenders require you pay an application fee (or, broker fee) simply to apply for their loan. Typically, application fees are non-refundable, even if a lender later decides to decline your loan application. While Happen Bank does not charge an application fee on any of its loans, we do charge an origination/processing fee which ranges from 0.00% to 8.00% % of your total loan amount (depending on your credit).
Does Happen Bank require any “upfront” fee or advance payment to obtain a loan?
Happen Bank does not charge any application fee, broker fee, or require any upfront or advance payment of any kind to obtain a loan.
If you were asked to pay such upfront fees by a company representing themselves as Happen Bank, please contact us immediately at support@happen.com. We take seriously and investigate all such complaints. Learn more about how to protect yourself from scams.
What happens if I want to pay my loan off early?
You can make extra payments on your loan, or pay off your loan in full, at any time with no additional charges or prepayment penalties. If you’re able to, we encourage you to pay your loan off early because you’ll save money on the interest charges that you did not incur due to your early payoff.
What if I’m unable to make my monthly payment on time?
As soon as you know you may have difficulty making your payment, please contact us at payments@happen.com, or call 877-227-5011. Our team members are here to help answer your questions and talk about the options available to you.
Keep in mind that all of our members receive a 15-day grace period to make payments with no penalty. If your monthly loan payment is not paid within the 15-day grace period, a late fee or other penalty may apply.
For Personal Loans
For Personal Loans, APR ranges from 5.96% APR to 35.99% APR and origination/processing fee ranges from 0.00% to 8.00% of the loan amount. APRs and origination/processing fees are determined at the time of application. The lowest APR may be available to borrowers with excellent credit, subject to additional factors including, but not limited to, loan amount, loan term, and sufficient investor commitment. Advertised rates and fees are valid as of April 27, 2026, are subject to change without notice, and may not be available for all Personal Loan products and/or through all application channels or platforms.