$10,600 loan from LoanMe has APR of 99.75% with $70,000 payback

The fine folks at LoanMe prequalified this Reddit user for a $10,600 loan. The annual interest rate is 99.75 percent. The monthly payment would be $841 and would require 84 payments to pay off the loan. In the end, the loan would cost over $70,000.

Over at LoanMe, there are other deals for people desperate enough to take the bait. Idaho residents who need $2600 can get it by paying a $75 loan fee, after which they will be obligated to make 47 monthly payments of $388.40, for a total payback of $18,254.80.