Sprout InstaCash: Convenience Fee Computation

Sprout InstaCash's objective is to provide the fastest loan disbursement with the most minimal convenience fees! But, have you ever wondered how Instacash computes for the convenience fee in your loan application? Read this article to find out!

At the present time, Sprout InstaCash offers 3 different flexible payment terms. This is a feature of Sprout InstaCash that will give more flexibility to borrowers interested in getting a loan from InstaCash. It will allow eligible employees to request a higher loan amount with a longer payment term. There is a corresponding payment term based on the amount that you will loan. You can settle your payments in 1, or 2, or 4 Payment Terms!

Read this to know more about InstaCash's flexible payment terms: Extended Payment Terms

For 1 Payment Term: The convenience fee is 2.75% of the Principal Loan Amount.

Example: Principal Loan Amount of 4,000 x 2.75% = 110 (Convenience Fee)

For 2 Payment Terms: The convenience fee is 5% of the Principal Loan Amount.

Example: Principal Loan Amount of 8,000 x 5% = 400 (Convenience Fee)

For 4 Payment Terms: The convenience fee is 10% of the Principal Loan Amount.

Example: Principal Loan Amount of 16,000 x 10% = 1,600 (Convenience Fee)

Pretty easy right? Let us know if you have any questions! Feel free to reach out to us at [e-mail] or submit a ticket via the Sprout Benefits: InstaCash - Ticket Submission