# What is the APR on a Credit Builder Loan?

> The APR for a Credit Builder Plus loan ranges from 5.99% to 29.99%. When you apply for a Credit Builder Plus loan, you will be able to review your loan amoun...

Source: https://help.moneylion.com/en_us/what-is-the-apr-on-a-credit-builder-plus-loan-SyYH2MRft

Last updated: 2024-08-20T18:45:47.557Z

The APR for a Credit Builder Plus Loan ranges from 5.99% to 29.99%. When you apply for a Credit Builder Plus Loan, you will be able to review your loan amount and rate, as well as your loan agreement, before deciding whether to accept the loan offer. 

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_Credit Builder Plus membership ($19.99/mo) unlocks eligibility for Credit Builder Plus Loans and other exclusive services. A soft credit pull will be conducted which has no impact to your credit score. Credit Builder Plus Loans have an annual percentage rate (APR) ranging from 5.99% APR to 29.99% APR, are made by either exempt or state-licensed subsidiaries of MoneyLion Inc., and require a loan payment in addition to the membership payment. The Credit Builder Plus Loan may, at lender’s discretion, require a portion of the loan proceeds to be deposited into a reserve account maintained by ML Wealth LLC and held by DriveWealth LLC, member SIPC and FINRA. The funds in this account will be placed into money market and/or cash sweep vehicles, and may generate interest at prevailing market rates. You will not be able to access the portion of your loan proceeds held in the credit reserve account until you have paid off your loan, and until your Credit Builder Plus membership payments are current. If you default on your loan, your credit reserve account may be liquidated by the lender to partially or fully satisfy your outstanding indebtedness. May not be available in all states._

_Credit Reserve Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclaimers relating to the MoneyLion Credit Reserve Account, see Investment Account FAQs and FORM ADV._

_Credit score improvement is not guaranteed. A soft credit pull will be conducted which has no impact to your credit score. Credit scores are independently determined by credit bureaus, and on-time payment history is only one of many factors that such bureaus consider. Your credit score may be negatively impacted by other financial decisions you make, or by activities or services you engage in with other financial services organizations. MoneyLion is not a Credit Services Organization._