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Borrower Fees

1% closing fee

If you are a borrower and your loan is funded, you will be charged 1% of the amount borrowed or $25, whichever is greater.

For example, if you take a loan for $5,000 to help pay for your wedding, you will be charged $50. The 1% is taken from your loan immediately, so in this example your loan is for $5,000 and you'd receive $4,950 in cash deposited into your bank account.

This means that if you're using Prosper to purchase something specific, make sure you ask for enough to cover the dress and the 1% closing fee.

1% Non-electronic payment charge (optional)

Borrowers who elect to pay their loans through bank drafts, rather than the free electronic payment service through ACH, will have 1% of additional interest added to their loan's interest rate. This added interest will be paid to Prosper for processing bank draft payments, not to lenders.

Delinquency Fees

$5 failed payment fee

If your automatic monthly payment fails due to insufficient funds or because you closed your bank account and forgot to tell us, you'll be charged $5, which may vary depending on your state lending limits. This fee is paid to Prosper, and covers the fees that Prosper's bank charges for failed payments.

Late payment fee

If your monthly payment is 15 days late, you'll be charged a late fee, which depends on your state lending limits. Late fees are passed on to lenders; Prosper does not profit from late fees.

Note: Delinquency fees may vary based on regulations from the borrower's state of residence. View state lending limits for state-specific fees.