All You Need To Know About Helix Loans
When Kendall Bank lends money, Helix is the company that does the work. Helix is based in Overland Park, Kansas. The lender gives out unsecured personal loans that don’t need to be backed by anything. This article explains All You Need To Know About Helix Loans.
Watch the below video on All You Need To Know About Helix Loans:
If you need money quickly, you can get a loan from Helix. The company says its loans are for people with “less-than-ideal credit.” From $200 to $4,000, it has loans with terms up to 24 months.
A lot of interest is charged on loans.
It’s possible that you could be approved even though you have bad credit. You’ll likely pay a lot of money in interest, though. If you borrow money from Helix, even the lowest interest rates are high. Even the highest interest rates go well into the triple digits, even more than the APRs of most payday loans.
Let’s look at that in a different way. Suppose you take out $1,000 with an APR of 199 percent. You’ll pay it back over 12 months. When all is said and done, you will have paid back nearly $2,400 to Helix, which is more than twice what you borrowed.
Keep in mind that Helix doesn’t charge a prepayment penalty, so you should try to pay off your loan early if you can. This way, you won’t pay more interest.
Weekly or biweekly payments must be made
To pay off a Helix loan, you’ll usually have to make payments every week or every two weeks. Even if you prefer to pay by the month, this could cause problems with your budget’s cash flow.
Getting money quickly is possible.
After 11 a.m. Central time on a business day, if you sign your loan agreement, Helix says you may be able to get your money the very next day, too. As soon as 11 a.m. Central time, you can sign your loan agreement. You may get your money the next business day. But the exact time will depend on the bank you use.
A closer look at personal loans from Helix, like the one shown here.
To help you decide if you want to get a personal loan from Helix, here are a few more things to think about:
If you pay your bill on time, it may help you build credit. Helix says it sends payment history to at least one of the major credit bureaus. if you pay your debts on time and in full, this can help you build up your credit score. So don’t take out a Helix loan if you aren’t sure you can pay back the money on time.
* For some people, Helix loans are not an option because they only work in 40 states, so they might not be the best choice for them.
* May be charged a late fee if you don’t pay on time. If you have a lot of late fees, they can add up and make your loan more expensive. Unless you get a loan agreement to sign, you won’t know what the charge is until then.
It’s good for people who need money.
To put it another way, if you want to get a loan from Helix, you’ll have to pay more than you would for a loan from another lender or an average personal loan. Before applying for a loan from Helix, check out all of your other options.
A federal credit union can offer you a lower-cost alternative to payday loans. You could also use an existing credit card or ask a family member for help.
Even a cash advance from apps like Dave or Earnin might be better than a loan, depending on how much you need to borrow.
If you decide to get a Helix loan, do your best to avoid late payments and pay off your loan early if you can.
How do I use Helix?
There is no need to go to a bank to get money with the help of a Helix personal loan. It could happen right away after you do this. The credit check will be done by Clarity Services, which is owned by Experian. After you apply, Helix will run the check through Clarity Services.
If you are approved, you can review and sign your loan agreement. You might get your money the same day or the next business day. It’s important to keep in mind that the exact time is usually determined by your bank.