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Bank Products

Secured & Unsecured Loans

Moving You Forward

The bank program and products are originated by FinWise Bank. The bank offers both secured and unsecured installment loans that can fund either the merchant or the consumer directly.

All bank loan products are underwritten, originated and held by FinWise Bank, an FDIC-insured bank. American First Finance is servicing these loans on behalf of FinWise Bank.


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What Is An Early Payoff Discount (EPD)?

An Early Payoff Discount allows you to pay off your contract early at a discounted amount. It typically lasts for 90 or 101 days starting on the date interest begins to accrue after you’ve opened your account. The time frame may vary, so check your contract for specific details about your Early Payoff Discount Period.

You may save money on interest by paying off the full balance within the Early Payoff Discount Period.

Here’s what is included in the full balance: If you pay off during the Early Payoff Discount Period, you would not pay any interest – only the Amount Financed, Origination Fee, and other applicable fees (e.g., Late Fees, Liability Damage Waiver (LDW) fees if LDW coverage was selected, and NSF fees).

Example: If your Amount Financed is $1,000.00 and you pay a $50.00 origination fee, you will only pay $1,050.00 if you pay off during the Early Payoff Discount Period.

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Not a “same-as-cash” option:

  • An Early Payoff Discount is not a “same-as-cash” option.
  • Fees and interest may apply to your bank loan account and make your account cost more than if you paid for your merchandise or service with cash.


Interest payments are still required:

  • Interest accrues daily, whether during or after the Early Payoff Discount Period.
  • At no point does the interest stop accruing and the interest is not deferred.


Other ways to save money

  • You may pay off at any time including at the end of your full contract term.
  • If you would like to pay earlier (but after the Early Payoff Discount Period has passed), by paying the loan in full before the final payment due date, you will pay less interest than if you pay according to the loan amortization schedule. The earlier you pay off the loan, the less interest you pay.
  • There are no prepayment penalties regardless of the option chosen.

Requires larger payments

  • The Early Payoff Discount Period generally lasts 90 to 101 days. Suppose you’d like to exercise your Early Payoff Discount Option. In that case, you’ll need to make payments larger than your minimum, contractual payments to pay it off, in full, within the Early Payoff Discount Period.
  • Your scheduled payments are only enough to pay the minimum amount owed and are built to divide your payments over the full term of your agreement.
  • Larger or additional payments are necessary to exercise the Early Payoff Discount.


Early Payoff Discount is optional

  • There is no penalty for letting the Early Payoff Discount Option expire, but it is generally more expensive not to exercise it.
  • Paying off after the Early Payoff Discount Period means that there’s more time for interest to continue to accrue, and the discount from the Early Payoff Discount Option is no longer available.

Bank Products – Frequently Asked Questions