Loan Details

OPA 1% Interest Loan Terms and Conditions

Interest Rate	1% fixed annual percentage rate (APR)
Loan Term	1 year (12 months)
Repayment Schedule	Monthly installments. Payment activity will be reported to credit bureaus
Fees and Charges	If a monthly payment is not received within 15 calendar days after the due date, a late fee will be charged on the 16th day. The late fee will be $5.00 or 5% of the unpaid installment amount, whichever is less. Only one late fee will be charged for each missed payment. If your account is more than 90 days past due, it will be considered in default. When this happens, the full past due balance must be paid within 30 days to avoid loan acceleration. If your account is more than 120 days past due, your loan will be accelerated. When this happens, the full remaining loan balance including interest and outstanding fees must be paid within 30 days of receiving a notice of default. The APR remains at 1%.
Prepayments	No prepayment penalties. You won’t have to pay any extra fees if you pay off your loan early.
Type of Loan	Personal or joint installment, consumer loan for USCIS citizenship application fees
Conditions	OPA will conduct a credit inquiry and require all applicants to meet minimum credit requirements. Borrowers who provide proof of income and meet minimum credit requirements do not require a co-borrower. Some loans may require a co-borrower who meets minimum credit requirements and has proof of income. On-time payments can help build credit for both the borrower and co-borrower, while delinquent payments may negatively impact credit.
Loan Amount	OPA’s 1% interest loans range from $380 to $1,385, depending on the type of citizenship application the borrower will submit to USCIS.