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Installment Loans Online
Apply for Online Installment Loans for bad credit or no credit. Get guaranteed easy approval from legitimate direct lenders. Start now for the same day funding.
Get up to $5,000 bad credit Installment Loans with no credit check. Enjoy convenient monthly payments and affordable interest rates from only 5,99%. Find Installment Loans near you at a store for the same day cash. APPLY NOW Online – get guaranteed instant decision from the best direct lenders!
* Always check the lender’s rates and fees as they may vary. We give only general information. Be attentive. Borrow responsibly! It’s up to you to make a wise decision.
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Get an Online Installment Loan in 3 easy steps
Apply for bad credit Installment Loans online and get guaranteed instant approval and quick funding within 1 - 2 business days. It’ll take you only a few minutes to start the process and some hours for loan processing.
- Fill out a simple free application form online and get instantly connected with more than 300 direct lenders.
- Verify your information and discuss the loan terms after you get approved.
- Have the money deposited into your account in less than 24 hours.
What are Installment Loan requirements?
In order to get an Installment Loan online or near you it’s necessary to meet some simple requirements from lending organizations:
- 18+ years of age
- United States residence
- Government-issued ID
- Proof of income
- An active banking account under your personal name
- A valid phone number and e-mail.
What is really cool about Online Installment Loans is that all of them will be considered and for those of you who have a Bad Credit history there’s a definitely good chance of being approved. Besides, applying doesn’t affect your credit anyhow.
What is an Installment Loan?
Online Installment Loans as well as Installment Loans near me come in the amounts from $1000 to $5000. They differ by convenient monthly payments within 2 - 36 months. No hard credit check, no faxing, no Teletrack is required to qualify for an Installment Loan. Bad credit is not a problem to get an easy approval. Besides, Installment Loans are unsecured, i.e. don’t require any co-signer or collateral which makes it even easier and faster to get.
Installment Loans - National Consumer Law Center (pdf)
Check Your Rates for Installment Loans by State
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How do Installment Loans work?
With an installment loan you are able to borrow a set amount of money at one time. You repay the loan in scheduled monthly installments over the fixed term. The APR and interest rate are not subject to change over all the repayment period. You can choose the loan amount that best fits your needs. Fixed monthly payments will help you plan your budget and avoid missing or late payments.
What are Installment Loan amounts?
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Easy online application
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Bad credit is OK
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Instant approval
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No credit check considered
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Competitive rates
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Same day financing
What are Installment Loan rates and terms?
Installment Loans are more affordable for the majority of borrowers as they go with lower interest rates that start with 5.99% APR. Always check your rates before submitting a loan request. It’s convenient to use a free online Installment Loan calculator.
Estimated Payment
$1,264.14
| Total Principal Paid: | $ 1,000.00 |
|---|---|
| Total Interest Paid: | $ 387.42 |
| Loan Term: | 471.36 % |
Select the amount for the loan you want in order to get the principal, which is the basis that we use to calculate the interest and the total cost of the cash advance.
The number of days within that you will be ready to repay the loan. It’s used to count the total cost of cash advance by multiplying the days by the amount of interest.
To calculate the total cost of your loan, we take the minimal average APR legal in all States, which is 36%. This figure is only a representative, providing you with general information on how much the loan may cost. To find out a more accurate total, fill in the Annual Percentage Rate required by the lender you want to apply to.
It’s the money charged by the lender for doing all the necessary paper work, bank transactions, etc., connected with lending you the money.
Why choose Easy Approval Installment Loans over other Personal Loans?
You can’t but agree that when one needs money, he wants it fast and safe. And we understand it better than anyone else. So we do our best to offer convenient reliable service for the borrowers. Applying for an Installment Loan with us you get:
- Fast and easy application process. It takes just 60 seconds to fill out an application form, which is instantly processed.
- Easy approval, even for the borrowers with a bad or poor credit score. 80% of our clients get their money the next business day without doing any paperwork, faxing, doing credit reports, etc.
- Profitable interest rates and convenient terms. They are all fixed in the written agreement. You get its copy. Study it carefully before signing a contract.
- The convenience of solving your financial problems with one click sitting on a comfortable chair at home. Our 100% online service makes it possible to avoid looking for cash stores, driving, etc.
- Safety and confidence. You can be sure that all your personal information is protected. All our direct partners are verified as reliable and efficient.
- No influence on your credit score. There is usually no hard check of your credit history, no credit report requirement, so taking an Installment Loan won’t harm your score.
- Fully committed service. You can apply for Online Installment Loans 24/7.
Get guaranteed Installment Loans for Bad Credit from Direct Lenders
Applying for a guaranteed approval bad credit Installment Loan you expect to get approval and get it fast. You are ready to pay higher interest rates as you badly need the money quickly and without any additional requirements, checks, paperwork, etc. Approval for an Installment Loan is easier to get online from a direct lender or broker than from traditional banks and credit unions, but we can’t say it’s 100% guaranteed. We offer the best way – fill out a free Compacom form right now and in some minutes, you’ll learn if you qualify for a loan.
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References
1. https://www.ucop.edu/loan-programs/resources/loan-terminology-glossary.html
2. https://www.fico.com/en/products/fico-score
3. https://www.usa.gov/credit-reports
4. https://www.consumerfinance.gov/
5. https://en.wikipedia.org/wiki/Credit_score
6. https://www.consumercredit.com/secured-loan-vs-unsecured-loan
FAQ
Can I get Installment Loans for bad credit?
Can I get Installment Loans with No Credit Check?
Do I get Online Installment Loans instant approval from direct lenders?
Is a collateral required to qualify for Online Installment Loans?
Installment Loans Hub
In the Installment Loans Hub, we've collected all the useful guides and resources on Installment Loans. Our experts conducted thorough research to give you the answer to any possible question on the topic.
Ask an expert
45 Сomments
April 19, 2023
How is my loan interest calculated?
April 26, 2023
Loan interest is typically calculated using the outstanding principal balance, the interest rate, and the length of time the loan is outstanding. The most common methods for calculating loan interest are simple interest and compound interest.
Simple Interest:
Simple interest is calculated using the following formula:
Interest = Principal x Interest Rate x Time
Here, the principal is the initial amount borrowed, the interest rate is the annual percentage rate (APR) expressed as a decimal, and the time is the length of the loan period in years.
For example, if you borrow $10,000 with an annual interest rate of 5% for 3 years, the interest would be:
Interest = $10,000 x 0.05 x 3 = $1,500
Compound Interest:
Compound interest is calculated by adding the interest earned in each period to the principal balance before calculating the interest for the next period. The formula for compound interest is:
A = P(1 + r/n)^(nt)
Here,
A is the future value of the loan, including both the principal and the interest
P is the principal amount borrowed
r is the annual interest rate as a decimal
n is the number of times interest is compounded per year
t is the time in years
For example, if you borrow $10,000 with an annual interest rate of 5% compounded monthly for 3 years, the interest would be calculated as follows:
A = $10,000 x (1 + 0.05/12)^(12 x 3)
A = $10,000 x (1.004167)^(36)
A ≈ $11,610.51
In this case, the interest accrued over the 3 years would be $1,610.51 ($11,610.51 - $10,000).
March 21, 2023
Why choose installment loans?
April 03, 2023
As most borrowers agree, Installment Loans are a good choice due to the easy and fast application process, competitive rates, and flexible convenient repayment process.
February 22, 2023
is it possible to repay my loan early?
April 03, 2023
If it wasn't mentioned in the contract that early prepayment is forbidden, of course, you can. You will save lots of interest this way. But make sure there're no penalty fees.
March 23, 2023
what documents do i need to provide?
April 03, 2023
The specific documents required for an installment loan can vary depending on the lender and the type of loan you are applying for. However, here are some common documents that may be required:
Proof of identity: This could include a government-issued photo ID, such as a driver's license or passport.
Proof of income: This could include recent pay stubs, tax returns, bank statements, or other documentation that shows your income and ability to repay the loan.
Proof of employment: Some lenders may require proof of employment, such as a letter from your employer or a recent job offer letter.
Proof of residency: This could include a utility bill, lease agreement, or other documentation that shows your current address.
Credit report: Some lenders may request a copy of your credit report to evaluate your creditworthiness.
Other financial information: Depending on the lender and the type of loan, you may be required to provide additional financial information, such as information about your assets and debts.
May 22, 2023
Can I apply for a loan online?
April 03, 2023
Sure, online application is the fastest and easiest way to borrow and get the loan.
September 22, 2023
Do I have to put in a co-signer if I need an installment loan?
April 03, 2023
If you apply for an unsecured installment loan, neither a cosigner nor collateral is required.
September 22, 2023
My credit rating is 580, can i apply for a loan?
April 03, 2023
Absolutely! Bad credit is not a problem when you need to get an installment loan.
November 22, 2023
Can I have two loans at a time?
April 03, 2023
It depends on your state's loan regulations. If two simultaneous loans are not forbidden by law, it's possible.
December 22, 2023
I need money immediately, what steps do I have to make?
April 03, 2023
If you need money immediately, here are some steps you can take:
Explore emergency financial assistance programs: Depending on your location and circumstances, you may be eligible for emergency financial assistance programs offered by local, state, or federal agencies. Examples include emergency rental assistance, utility bill assistance, and food assistance programs.
Sell unwanted items: Look around your home for items that you no longer need or use, such as electronics, clothing, or furniture. You may be able to sell these items online or at a local pawn shop or consignment store for quick cash.
Find part-time work: Consider taking on part-time or temporary work to earn extra money. Look for opportunities in your area, such as seasonal jobs, delivery or rideshare driving, or freelance work.
Borrow from friends or family: If you have a good relationship with friends or family members, you may be able to borrow money from them in a pinch. Be sure to discuss repayment terms and expectations upfront to avoid any misunderstandings or conflicts.
Consider a loan: If you have exhausted other options and need to borrow money, consider a personal loan or a payday loan. Keep in mind that these options often come with high interest rates and fees, so be sure to read the terms and conditions carefully before agreeing to any loan.
January 23, 2023
Can I reschedule my payment?
April 03, 2023
Whether or not you can reschedule a payment on an installment loan will depend on the specific terms and conditions of your loan agreement and the policies of your lender. In some cases, lenders may offer options for borrowers to adjust their payment schedule, such as allowing for a deferment or forbearance period, or extending the repayment term of the loan.
If you are having difficulty making your installment loan payments, the best course of action is to contact your lender as soon as possible to discuss your options. Many lenders are willing to work with borrowers who are experiencing financial hardship, and may be able to offer a temporary solution or modification to help you manage your payments.
When contacting your lender, be prepared to explain your situation and provide documentation of any financial difficulties you are experiencing, such as job loss, illness, or unexpected expenses. It's also important to communicate any changes in your financial situation as they arise, and to be proactive about seeking assistance if you anticipate difficulty making future payments.
Keep in mind that failing to make your installment loan payments on time can have serious consequences, including damage to your credit score, late fees and penalties, and potential default on the loan. If you are struggling to manage your debt, seeking help from a financial professional or credit counseling service may also be a useful resource.
April 22, 2023
How many payments do I have to make to repay my loan?
April 03, 2023
The number of payments you will need to make to repay your installment loan will depend on several factors, including the amount of the loan, the interest rate, and the length of the loan term.
Typically, installment loans are repaid in equal monthly payments over a set period of time, ranging from a few months to several years. For example, a loan with a term of 36 months would require 36 monthly payments to fully repay the loan.
It's important to note that each payment will include both principal and interest, with a portion of the payment going toward reducing the amount of the loan (the principal) and the remainder going toward paying the interest charges.
To determine the number of payments required to repay your installment loan, you can review your loan agreement or contact your lender directly. It's important to ensure that you have a clear understanding of the terms of your loan and your repayment schedule, including any penalties for missed or late payments, to avoid any unexpected fees or charges.
February 23, 2021
How much can i get with an installment loan?
April 03, 2023
Typically, up to $5,000.
July 21, 2023
How can i use installment loan?
April 03, 2023
You can use an installment loan for a variety of purposes, depending on your financial needs and goals. Here are some common ways that people use installment loans:
Consolidating debt: If you have high-interest credit card debt or other loans, you may be able to use an installment loan to consolidate your debt into a single monthly payment with a lower interest rate.
Making a large purchase: If you need to make a large purchase, such as a car or home repairs, an installment loan can provide the funds you need to make the purchase and pay it back over time.
Covering unexpected expenses: If you have an unexpected expense, such as a medical bill or emergency home repair, an installment loan can provide the funds you need to cover the expense and pay it back over time.
Financing a business: If you are a small business owner, you may be able to use an installment loan to finance your business operations or expansion plans.
Investing in education: If you are pursuing further education, such as a college degree or vocational training, an installment loan can provide the funds you need to cover tuition and related expenses.
November 22, 2023
how to apply if I'm unemployed?
April 03, 2023
If you are unemployed, it may be more difficult to qualify for an installment loan as lenders typically require proof of income as part of the application process. However, there are some options that may be available to you:
Apply with a co-signer: If you have a trusted friend or family member who is willing to co-sign on your loan, this may increase your chances of approval. A co-signer with a stable income and good credit can help reassure lenders that the loan will be repaid on time.
Look for lenders that accept alternative income: Some lenders may accept alternative sources of income, such as disability payments, retirement benefits, or child support payments. Be sure to review the lender's eligibility requirements before applying to ensure that you meet their criteria.
Consider a secured loan: A secured loan is a type of loan that is backed by collateral, such as a car or home. Because the loan is secured, lenders may be more willing to lend to borrowers without a steady income source. However, it's important to note that if you default on the loan, the lender may seize the collateral.
February 23, 2023
What documents do i need to provide to apply for an installment loan?
April 03, 2023
Proof of identity: This could include a government-issued photo ID, such as a driver's license or passport.
Proof of income: This could include recent pay stubs, tax returns, bank statements, or other documentation that shows your income and ability to repay the loan.
Proof of employment: Some lenders may require proof of employment, such as a letter from your employer or a recent job offer letter.
Proof of residency: This could include a utility bill, lease agreement, or other documentation that shows your current address.
Credit report: Some lenders may request a copy of your credit report to evaluate your creditworthiness.
Other financial information: Depending on the lender and the type of loan, you may be required to provide additional financial information, such as information about your assets and debts.
March 23, 2023
How do I repay my installment loan online??
April 03, 2023
To repay your installment loan online, you will need to follow the specific instructions provided by your lender. Here are some general steps that you can expect to take:
Log in to your account: Most lenders that offer online repayment options will have a website or mobile app that you can use to log in to your account. You will need to provide your login credentials, which may include your username and password or other identifying information.
Navigate to the payment section: Once you have logged in to your account, you should be able to navigate to the payment section, which may be located under a "Payments" or "Account" tab.
Enter payment information: To make a payment, you will typically need to provide your payment information, such as your bank account or debit card information. Some lenders may also offer the option to pay using a different payment method, such as a credit card or PayPal.
Confirm payment details: Before submitting your payment, be sure to review the payment details carefully, including the amount, due date, and any fees or charges that may apply.
Submit payment: Once you have reviewed and confirmed the payment details, you can submit your payment online. Some lenders may provide a confirmation number or receipt for your records.
January 31, 2023
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November 07, 2019
What happens if I can't pay my Installment Loan back on a due date?
November 08, 2019
First of all, remember that Installment Loans offer very convenient and affordable repayment terms. You can pay the money back over the period of several months of years in equal, usually monthly installments. But any way, if things happen so that you can't make one or several payments, or you are late or you even default on your loan, don't panic. Consider the options your lender offers in such cases. It may be a repayment plan, extension of a loan, rollover, another loan to consolidate debt, etc. Choose the most suitable variant. Don't worry about any severe collection practices as they are forbidden in most states. In case you feel the lender violates the laws or some collecting agencies disturb you, contact the state's Department of Financial Institutions.
However, do you best not to default Installment Loans as it can lead to penalty fees, more interest and higher debt as well as can damage your credit score. Borrow responsibly!
August 17, 2019
Do I have to be employed to get approved for an Installment Loan?
August 18, 2019
Most Installment Loan direct lenders have rather simple requirements. In the majority of cases, you do not have to be employed, but you must have a steady source of income. As Installment Loans are provided to borrowers with both good and bad credit scores and often with no hard credit check, a proof of income is practically the only criterion to make sure that you can afford the loan.
April 10, 2019
What are my steps to get a $3000 Installment Loan online?
April 12, 2019
To get an Installment Loan online as fast as possible follow these 3 easy steps:
1. Fill out a simple application form online. You'll need to state some of your personal, financial, and employment information to provide an immediate decision on your loan application.
2) Get your information processed and verified by the lender. You may be asked to answer a few identity questions to prove your identity, income, and collateral (if applicable). Then you can discuss your loan options with a lender to get the best rates and terms.
3) Sign the loan agreement and receive your funds within 1 - 2 business days. If you apply for an Installment Loan online, you can sign your documents electronically, after which the funds will be deposited into the account you’ve provided.
January 02, 2019
How fast can I get the funds after I apply for an Installment Loan online?
January 03, 2019
After you apply for online installment loans you get evaluated in a matter of minutes and receive an offer for the best rates available.. The money transfer time depends on the time of your loan request and on your bank working hours. Mostly, if you submit the loan application before 11 am you are likely to get the same day installment Loan. IN case the bank doesn't manage to deposit money today you'll get the loan the next business day.
December 07, 2018
Can I Get An Installment Loan With No Credit?
December 09, 2018
When you apply for an Installment Loan online you should be aware of the eligibility criteria. They are very simple and usually don't include any minimal credit score requirements. Most direct lenders provide Installment Loans online with no hard credit check. So it doesn't really matter whether you have a bad credit score or no credit at all. Prove that you can repay the loan and you're likely to get approved for the necessary funding.
November 12, 2018
How Long Does It Take To Get Approved For A $1000 Installment Loan?
November 13, 2018
As soon as you've filled out an online application form for the necessary amount of Installment Loan and submitted all the documents, you may expect that your personal and financial information is verified within a few minutes and you get an instant decision from a direct lender. If you meet all the basic requirements you are guaranteed quick approval for the funding.
Once you're approved, the money will be deposited into your bank account. Typically it takes 1 - maximum 2 business days. If you are approved for an Installment Loan in the morning, you are likely to get the money the same day. It also depends on the bank working hours, however.
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