Kendall Bank’s lending arm, Helix, is situated in Overland Park, Kansas. The lender provides unsecured personal Helix loans with no collateral requirements. Helix advertises its loans to persons with “less-than-ideal credit” and claims that they are for emergency expenses. Its small loans range from $200 to $4,000 and can be paid back over a period of up to 24 months.
Interest Rates Are Extremely High
While you may be able to receive a Helix personal loan with low credit, you’ll almost certainly have to pay a hefty interest rate. Even Helix’s lowest rates are expensive, and its highest rates go well into the triple digits, exceeding the APRs of most payday loans.
Let’s put this in context. Let’s say you take out a $1,000 loan with a 199 percent annual percentage rate that you’ll pay back over the course of a year. When it’s all said and done, you’ll have repaid Helix about $2,400, more than twice the amount you borrowed. Keep in mind that Helix doesn’t impose a prepayment penalty, so if at all possible, pay off your loan early to avoid paying extra interest.
Payments Are Due Every Week or Biweekly
You’ll normally have to make payments weekly or biweekly to repay a Helix loan. This could affect your budget’s cash flow, especially if you prefer monthly payments.
It Is Feasible to Obtain Cash Quickly
You may be able to get your money the same day if you sign your loan agreement by 11 a.m. Central time on a business day, according to Helix. If you sign your loan agreement after 11 a.m. Central time, you may receive your funds the next business day. However, the exact timing will be determined by your bank.
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Pros and Cons of Helix Loans
- Loans in small sums are accessible.
- There is no requirement for a security deposit.
- •Interest rates are extremely high.
- There’s a chance you’ll be charged a late fee.
- Payments are due every week or biweekly.
Helix Loans: 3 Things to Know
1. Kendall Bank, Missouri Branch, Member FDIC, Provides Helix Personal Loans
Kendall Bank has been assisting individuals, families, and businesses with their financial goals for over 120 years. Kendall Bank is now helping consumers around the country receive the money they need to deal with unforeseen expenses with Helix personal loans. Kendall Bank is also devoted to assisting customers in making timely payments, building credit, and moving forward toward greater financial futures.
Kendall Bank offers a broad range of personal and business banking products and services, including checking and savings accounts, debit cards, financing, and insurance, in addition to personal loans.
2. Helix by Kendall Bank Is a Smart Alternative to Payday Lenders, Title Loans, and Overdraft Fees at the Bank
Helix by Kendall Bank is a smart alternative to payday lenders, title loans, and bank overdraft fees when you need to deal with unforeseen needs immediately. They provide personal instalment loans with no collateral and repayment lengths of up to 24 months. The loan is repaid over time with a certain number of scheduled payments, but you can pay it off or make extra payments at any time without incurring additional costs or penalties.
You have complete control over the amount you borrow and the amount of interest you pay when you take out a Helix loan. We make it possible for you to calculate the whole cost of your loan, including interest. You can considerably minimize the amount of interest you pay by paying off your loan early because they do not levy fines or penalties for making additional payments to the principle (in fact, they encourage it). As a result, the majority of their borrowers pay off their debts within a few months.
3. Kendall Bank’s Helix Is Here to Assist You
One of the things that distinguishes Helix from other lenders is that we genuinely value and care about our clients. They understand that life happens, and that it can throw you some unforeseen curveballs.
They are here to assist you (and happy to). When it comes to repayment concerns, their customer service team takes satisfaction in dealing with its customers.
How Does It Work?
You won’t have to wait days for a decision or deal with annoying phone calls when you use Helix by Kendall Bank. The entire loan application and approval procedure is completed online — quickly, easily, and securely.
You might be eligible even if your credit isn’t perfect.
1. Fill out an online application
In just a few minutes, complete our quick and secure online loan application.
2. Examine the Offer
Instantly receive a decision and choose the loan amount that works best for you.
3. Collect your funds
Finalize your loan in a few clicks and receive funding the next business day.
Helix Offers a Variety of Lending Options. When Will I Be Able to Retrieve My Money?
Helix offers personal instalment loans with no collateral and periods as long as a few years. When you look at the long run with a sufficient level of planned payments, you will be able to pay down your debt or make additional re re payments whenever you want without incurring any more prices or expenses. Make certain you receive your offer.
The precise timing of a few things, such as the time it takes for your bank to credit the payment to your account.
An Examination of Helix Loans
Here are a few more details to consider if you’re considering a Helix personal loan.
- Helix claims to record payment history to at least one of the main credit bureaus, which could assist establish credit. As long as you pay on time and in full, this can help you improve your credit. Late or missing payments, however, might harm your credit, so don’t take out a Helix loan if you’re not sure you’ll be able to make your payments on time.
- Helix loans aren’t available in every state – Helix loans are only available in 40 states, so they might not be a choice for you.
- You may be charged a late fee if you miss a payment – If you miss a payment, Helix may charge you a late fee. Multiple late fees might add up to a significant increase in your loan’s overall cost. Helix, on the other hand, does not disclose the fee upfront; you won’t know until you sign a loan agreement.
Who Can Benefit From Helix Loans?
Helix loans are extremely costly, with interest rates that are far higher than those offered by other lenders and the national average for personal loans. Before applying for a Helix loan, look into all of your other options.Use an existing credit card, ask a family member for assistance, or apply for a lower-cost payday alternative loan from a federal credit union, for example.Depending on how much you need to borrow, a cash advance from a popular app like Dave or Earning may be a better option.
If you choose a Helix loan, make every effort to prevent late payments and repay your debt as soon as possible.
Are You Unsure if Helix Is the Right Fit for You? Consider the Following Options
- Avant personal loan: If you need more money than Helix can provide, Avant could be an excellent option.
- Brigit: Brigit is a good option if you need a little cash advance and would rather pay a monthly fee than pay interest.
Helix provides small loans to customers who need money for an unexpected need, such as a car repair. These loans, however, come with extremely high interest rates and must be paid back weekly or biweekly.
If you are considering other options, you can go for LoanMart that provide general loan option.
Frequently Asked Questions on Helix Loans
Q) How do I go about getting a personal loan?
Our application is a fully automated web-based procedure. If you’re approved, you could get your money the next business day. You’ll need to supply the following information to apply: Contact information, where you live, what you do for a living, and how much money you make are all
Q)Is it possible to pay off your Helix debts early?
Helix never charges you a fee if you pay off your loan early.
In fact, they recommend that you pay off your debt as soon as possible, bringing you closer to financial stability. If you pay off your loan on time, your credit score will improve.
Q) Helix provides what kinds of loans?
Helix provides unsecured personal instalment loans with no collateral. The loan is repaid over time with a certain number of scheduled payments, but you can pay it off or make extra payments at any time without incurring additional costs or penalties.
Q) Is a Helix loan subject to collateral?
No, a Helix loan does not require collateral. Helix offers no-collateral, unsecured personal loans based on credit, income, and a variety of other characteristics.
Q) How long does it take for your application to get approved?
After you submit your application, you will receive an immediate response via email. If you are authorized, you will receive a formal loan offer that includes information on the loan amount, payment terms, and interest rate.
It’s only a few clicks away from finalizing your loan and signing your online loan agreement. You will receive your money within one business day once the transaction is completed.
Q) What are the Helix loan interest rates?
Interest rates differ depending on the applicant. They are determined by a variety of parameters, such as credit score and payment history. This rate is included in your loan agreement, which you should read before signing.
It’s crucial to remember that while evaluating your offer, interest rate is only one component to consider when calculating the entire cost of your loan. You can repay your loan at any moment without penalty, and paying off your loan early saves you money in the long run.