Installment Loans Online

Need instant cash to pay a huge bill or purchase a valuable asset? Get an installment loan online with us and borrow $100 - $5,000 today and repay the loan amount in regular installments without any worry.

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$2,500
$2,500
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Understanding Installment Loans

Whether you face a medical emergency or an unexpectedly large bill payment, online installment loans can help ease your financial burden. Even if you just need cash urgently to purchase something you need, an installment loan can help you access the funds.

As the name suggests, installment loans can be borrowed in lump sum and repaid with interest in several small terms like monthly. This makes the loan option more attractive for borrowers since they are not burdened by immediate repayment or the need to arrange a lump-sum amount.

With our loan service that can match you with suitable installment loans lenders, you can borrow money from trusted lenders and request an installments easily and quickly.

How To Get An Installment Loan?

If you are interested in getting an installment loan, the good news is that the process is quick and easy. To request an online installment loan, all you need to do is follow these steps:

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1

Fill the Installment Loan Form

We offer an online form that you can fill from the comfort of your home. Provide information such as your identity, current income, and the amount required so that our lenders can make a quicker decision.

2

Receive and Approve an Offer

Once you submit the application info, we will connect with a panel of reliable lenders who are willing to offer installment loans to you. Based on the offers by the lenders, you can choose one that is suitable for you.

3

Get the Funds

After your lender approves the installment loan request and you agree on the terms, you can receive the cash within 1-3 business days. The funds can be deposited directly to your bank account without any additional hassle.

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Can I Apply For an Installment Loan With No Credit Checks?

If a broker or lender service promises to offer you a loan without any credit checks, then they are likely lying. Most lenders do a soft credit check on you to verify your details.

This soft credit check is different from a hard credit inquiry. While a hard credit check can impact your credit score, soft checks do not affect your credit in any way. Before an installment lender sends you an offer, they might run a soft credit check based on the information you provide in the form.

If you are trying to avoid a hard credit check, the best option is to speak with the lender directly. Ask them what their terms are and whether they would be doing a hard credit check before approving your installment loan.

Since most lenders do not conduct hard credit checks, they are willing to offer installment loans to those with bad credit scores. So you don't have to worry about your poor credit score or bad credit history when you are applying from lenders introduced by our platform.

How to Find Reliable Installment Loans In Each State?

With the following list, you can find out more about the trusted installment loan services provided in each state of America, and choose the right one for you.

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Things To Consider When Getting An Installment Loan Online

Knowing that you can get an installment loan to ease your financial struggles can be a breath of fresh air during a tough time. Here are a few things you should take into account before requesting an installment loan:

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  • 1. Credit Score

    Most of our lenders will run a soft credit check on you before approving a loan request. Having a better credit score can get you low interest rates and a better repayment plan from the lender. So before placing a request, you can check your credit score yourself to determine your decision.

  • 2. Loan Terms

    Instead of agreeing with everything that the lender says, it is important to consider whether you can live up to the terms and conditions that they propose. Check the repayment plan and loan duration to determine whether you can easily repay the loan amount in the given time.

  • 3. Interest Rate

    Some lenders charge high interest rates on installment loans, while others can offer lower rates. There are many factors that can influence the interest rate offered to you, including your credit history and loan amount. Make sure you check the interest rate beforehand and calculate the exact amount that you will be repaying.

  • 4. Evaluate Your Financial Situation

    To determine which type of loan is best for you, you should evaluate your financial situation beforehand. Consider all your routine expenses, debts, and any big payments that may be coming in the next few months.

  • 5. Reason for Loan

    No matter how attractive it looks, it is not recommended to get an installment loan if you don't have a sound reason for it. Before requesting for a loan, consider what you will be using this money for. Do you have important bills to pay, or is it just a voluntary purchase that you can put off?

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Will an Installment Loan Hurt My Credit?

Your credit is determined by the credit score, a three-digit number that represents your reliability as a borrower. This number is determined according to your ability to repay debts on time.

An installment loan will have fixed repayments over time which typically include a specific amount to be paid every month. If you are unable to meet these monthly repayment deadlines, then an installment loan can damage your credit score. You might also be charged with a late payment fee depending on the lender's terms and conditions.

However, if you repay the installment loan on time, your credit might be improved as you have proved that you have the ability to pay back the specified amount without delay.

It is essential to be careful with installment loans in order to avoid hurting your credit over time. If you cannot commit to making fixed monthly repayments, then it might not be a good idea to apply for an installment loan.

Advantages of Online Installment Loans

If you are unsure whether you should get an online installment loan, here are a few benefits that might convince you.

  • 1. Make Big Purchases

    When you take an installment loan, you can buy large items as you would have a significant amount of cash in hand. Installment loans come in many different types, including auto loans that can help you purchase a new car. You can also use an installment loan for home renovations, mortgage payments, or unexpected medical bills.

  • 2. Fast & Easy Process

    Getting an installment loan can be a quick and easy process. If you need money urgently, then an installment loan can help you acquire a large sum of money quickly. All you need to do is fill the online form on our broker service and we can help you connect with a lender immediately. Most lenders can approve your request within 15 minutes and deposit your funds the very same day.

  • 3. Can Be Managed Online

    You can connect with lenders online through our loan-matching service without any hassle. In most cases, you can get an online installment loan approved quickly from the comfort of your home.

  • 4. Lower Financial Stress

    Falling short on money can cause great financial stress. With installment loans that are regularly repaid monthly, you can keep your financial stress to a minimum and borrow a large sum of money to get you through a difficult time.

  • 5. Flexible Terms

    With a long-term installment loan, you can pay off the loan in multiple years without any worry. Many lenders offer flexible terms that create little to no financial burden due to the long repayment time.

FAQs

  • What is an installment loan?

    An installment loan is a personal or commercial loan that borrowers must repay through regular and fixed payments. The term of an installment loan can last anywhere between a few months to a few years, depending upon the amount borrowed and the monetary value of each fixed repayment.

  • Do banks offer installment loans?

    Banks offer a variety of loans that can be paid back in multiple installments. The most common type of installment loans offered by banks are personal loans that can be taken for any purpose. However, banks run hard credit checks and have strict terms for a borrower to qualify for the loan.

  • Are installment loans bad?

    Installment loans can be great if you want to make a big purchase or pay for a sudden expense. They can help ease your financial burden as you can repay the amount with small, fixed payments over a long period. However, installment loans can damage your credit score if you are unable to make a repayment in time.

  • What do installment loans include?

    Installment loans include personal loans, auto loans, mortgage loans, and student loans. If you borrow a large sum of money from a lender and agree to pay it back in small, fixed amounts over time, then it is considered an installment loan.

  • What are 2 types of installment loans?

    Installment loans can either be secured or unsecured. Secured loans require you to provide some collateral against the loan amount, such as your car title or house deed. Unsecured loans do not require any type of collateral and can be taken by anyone.

    However, the interest rate charged on an unsecured loan is typically higher due to the increased risk for the lender.

  • Can you pay off an installment loan early?

    Yes, you can pay off an installment loan early if the funds are readily available to you. However, it is important to ask your lender whether there is any additional fee for early repayment. This is often called a prepayment penalty fee and is calculated as a percentage of the remaining loan amount.

  • What happens when an installment loan is paid off?

    Once the installment loan is paid off, you are free of debt and no longer have to continue paying anything to the lender. If you provided any collateral in exchange for a secured installment loan, then the lender will return it to you upon complete repayment of the loan.

  • Is a mortgage an installment loan?

    Yes, mortgage loans are considered an installment loan. You can get an installment loan to pay the mortgage of a new house and provide the deed to the lender as collateral. Over time, you can repay this amount in fixed installments.

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