What fees are charged on Lava Loans?

Lava charges a one-time origination fee of 2% to take out a loan. There are no early repayment fees or closure fees.

If you'd like to extend your loan after its term, you will pay a one-time extension fee of 2%.

Users who miss monthly payments will be charged a late fee of 0.20% assessed on the loan balance weekly until a payment is made.

Interest rates and loan durations are fixed on Lava, so users are presented with all of the terms of their loan prior to initiation. Monthly payments and payment schedules can be found within the app.

Interest rates on Lava Loans vary depending on the duration of the loan, but Lava offers the lowest interest rates in the market for bitcoin loans. For more information on interest rates, see here.