SCHEDULE OF LOAN FEES AND CHARGES
TMX Finance of Kansas, Inc. d/b/a TitleMax
TitleMax Personal Line of Credit Account (Online)
Effective September 2020
TitleMax of Kansas, Inc. d/b/a TitleMax ("Lender") is a licensee under and offers this open-end, personal unsecured line of credit product in accordance with and under the authority of the Kansas Uniform Consumer Credit Code (K.S.A. 16a-1-101 et seq.). The TitleMax Personal Line of Credit Account (Online) is governed by the TitleMax Personal Line of Credit Account Terms and Conditions (Online) effective July 2020 (the "Terms and Conditions"). Review the Terms and Conditions.
Available Credit Line Amounts: $100.00 to $2,500.00 (first time borrowers are eligible for a maximum credit line of $1,000.00)
Account Term: Open-end
Account Repayment/Billing Cycle Options: Monthly, semi-monthly and bi-weekly billing cycles
Minimum Principal Payment: The Minimum Principal Payment will equal 3.0% of the ending principal balance for monthly billing cycles and 1.5% of the ending principal balance for semi-monthly and bi-weekly billing cycles.
Minimum Payment Amount: The Minimum Payment Amount will equal the Minimum Principal Payment plus accrued and unpaid Interest and Customary Fees for each billing cycle.
Interest (APR): 359.89% per annum (0.986% per day). Interest will continue to accrue on past due principal amounts until paid in full in accordance with Kansas law.
Late Fee: If the Minimum Payment Due is not paid in full within ten (10) days of the Payment Due Date, Lender may assess a late fee in an amount not to exceed 5% of the unpaid amount of the Minimum Payment Due or $25, whichever is less.
NSF Fee: Lender may impose an insufficient funds charge in the amount of $30 for any payment instrument that is returned, is not honored, or otherwise cannot be processed due to insufficient funds.
Prepayment: There is no prepayment penalty.
How We Will Calculate Your Balance: Lender uses a method called "daily principal balance method (including new cash advances)." See Section E of the Terms and Conditions for more details.
Line of Credit Transaction Examples: For each billing cycle, the transaction examples below assume that the daily principal balance over the biling cycle is equal to the Cash Advance Amount, and that the Minimum Payment Amount will equal the Minimum Principal Payment plus accrued and unpaid Interest and Customary Fees. TitleMax uses the daily balance (including new cash advances) computation method. Accordingly, Interest and Customary Fees are charged on the daily balance of the account for each day of the applicable billing cycle.
Monthly Billing Examples
| Cash Advance Amount | Days in Billing Cycle | Interest | Principal Payment | Estimated Minimum Payment Due |
|---|---|---|---|---|
| $250.00 | 30 | $73.95 | $7.50 | $81.45% |
| $750.00 | 30 | $221.85 | $22.50 | $244.35% |
| $1,250.00 | 30 | $369.75 | $37.50 | $407.25% |
| $1,750.00 | 30 | $517.65 | $52.50 | $570.15% |
| $2,250.00 | 30 | $665.55 | $67.50 | $733.05% |
Semi-Monthly Billing Examples
| Cash Advance Amount | Days in Billing Cycle | Interest | Principal Payment | Estimated Minimum Payment Due |
|---|---|---|---|---|
| $250.00 | 15 | $36.98 | $3.75 | $40.73% |
| $750.00 | 15 | $110.93 | $11.25 | $122.18% |
| $1,250.00 | 15 | $184.88 | $18.75 | $203.63% |
| $1,750.00 | 15 | $258.83 | $26.25 | $285.08% |
| $2,250.00 | 15 | $332.78 | $33.75 | $366.53% |
Bi-Weekly Billing Examples
| Cash Advance Amount | Days in Billing Cycle | Interest | Principal Payment | Estimated Minimum Payment Due |
|---|---|---|---|---|
| $250.00 | 14 | $34.51 | $3.75 | $38.26% |
| $750.00 | 14 | $103.53 | $11.25 | $114.78% |
| $1,250.00 | 14 | $172.55 | $18.75 | $191.30% |
| $1,750.00 | 14 | $241.57 | $26.25 | $267.82% |
| $2,250.00 | 14 | $310.59 | $33.75 | $344.37% |
LICENSES AND REGULATORY INFORMATION
Office of the State Bank Commissioner
Attn: Consumer Affairs
700 SW Jackson, Suite 300
Topeka, KS 66603
Fax: (785) 296-6037
Email: complaints@osbckansas.org
Website: https://www.osbckansas.org/consumers/
Complaint Form: https://www.osbckansas.org/consumers/file-a-complaint/