Blue Trust offers alternatives to payday loans for people looking to borrow money they can pay back over several months. You can apply for Blue Trust Loans’ installment loan online, and possibly receive funding as fast as the next business day.
| Product Name | Blue Trust Loans Installment Loans |
|---|---|
| Min Loan Amount | $100 |
| Max. Loan Amount | $2000 |
| Loan Term | 6 months |
| Loan Security | Unsecured |
| Turnaround Time | As soon as next business day |
| Requirements | You must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account. |
- You must provide a verifiable source of direct deposit income into your checking account.
- Have an open checking account.
- You need to be at least 18 years old and a United States citizen.
- Your take-home pay has to meet our minimum income requirements.
- You must not currently be a debtor in a bankruptcy case or presently intend to voluntarily file for bankruptcy relief.
Overview
If you need money soon, you can apply online for a short term installment loan from Blue Trust Loans. These loans act as an alternative to payday loans because you don’t have to make payments in one large lump sum. Instead, you can pay over time, through a fixed repayment schedule.
Blue Trust Loans does not charge any penalty fees if you decide to make payments before the due date. Additionally, you can save on interest by making early payments.
It’s important to note that the APR for these loans will be higher than that of commercial banks. You should expect to pay an APR anywhere from 471.7846% to 841.4532% depending on the loan term.
Benefits of Blue Trust Loans Installment Loans
- No prepayment penalties. Blue Trust Loans will not charge any fees if you decide to pay off your loan balance earlier than the due date. However, there are no set discounts for doing this.
- Quick approval. After you apply, the lender may let you know if you are approved within minutes if you submit the application within normal business hours.
- Fast turnaround. If your application is approved, you can deposit up to $2000 into your bank account as soon as the next business day.
- Fixed payments. Except for the first and last payments, your payment amount will be the same throughout the life of the loan. The schedule is created based on the interest rate, principal balance and number of payments.
How does Blue Trust Loans compare to other online installment loan providers?
Blue Trust Loans Features
- Payment schedule. The payment schedule is based off of your income schedule with typical terms lasting six months. For example, if you get paid weekly, you will have 24 loan payments. If you are paid biweekly, you will have 12 payments. If you are paid monthly, your loan will have six payments.
- Loan amount. You can choose to borrow from $100 to $2000. The max loan amount may be lower for first-time borrowers.
- Accredited lender. They are members of both the Online Lenders Alliance (OLA) and the Native American Financial Services Association (NAFSA).
- Privacy agreement. Blue Trust Loans’ privacy policy explains that the company can share your collected personal information. Shared information can include your social security number, bank account information or credit history.
- Sovereign entity. Blue Trust Loans is solely owned and operated by the Lac Courte Oreilles Band of Lake Superior Chippewa Indians. They are a tribal lender, and the funds generated through loans help support government projects.
Read our tribal lending guide to learn more about borrowing from tribal lenders
How to apply for an installment loan through Blue Trust Loans
Applying for the loan is easy, and requires applicants to meet the following eligibility requirements:
Eligibility criteria:
- 18 years old or older
- US citizen
- Verifiable source of direct deposit income
- Open and operating checking account
- Take-home pay that meets minimum income requirements
- Not a debtor or in a bankruptcy case
The application is online, and requires the following information and documentation:
Required documents & information:
- Name, birth date, Social Security number
- Requested loan amount
- Residential address
- Email address and phone number
- Income information
- Bank account information
Bottom line
If you are looking to get funded fast, Blue Trust Loans can get you approved in minutes, and funded as soon as the next business day. Before choosing Blue Trust Loans, be sure to compare your other online installment loan options.
Frequently asked questions
Will missed or late payments affect my credit score?
If tribal lenders are legal in your state, then they may report missing or late payments to one of the big three credit bureaus. Always be sure you can repay a loan before signing a contract.
Do lending laws of the state I reside in apply to Blue Trust Loans
No. Only laws of the Lac Courte Oreilles Band of Lake Superior Chippewa Indians govern your loan agreement. This is because sovereign Indian Tribes don’t have to adhere to state laws in the absence of congressional authorization.
Is there any way to see what tribal laws apply to Blue Trust Loans?
Yes, you can view the Lac Courte Oreilles Band of Lake Superior Chippewa Indians Tribal Consumer Financial Services Regulatory Code online.
Are payday loans permitted in your state?
Hover over your state of residence (or click on your state if you’re using a mobile device) to find out if payday loans are legal in your state.
Do yu lend in CT?
Hi Sharon,
Thank you for your inquiry.
Should you need a loan options in Connecticut you may want to consider the lenders here.
I hope this information has helped.
Cheers,
Harold
do you do loans in new York
Hi Adassa,
Thanks for your question.
Yes, Blue Trust Loans is available in New York.
You may also check this page to compare your other options.
Cheers,
Anndy
I don’t have a bank account but I get my checks direct deposit into my prepaid card accpunt thru pls check cashers..
Hi Ricardo,
Thank you for your inquiry.
Checking account is required, while you may not be eligible for Blue Trust Loan. You may want to consider the options for prepaid debit card payday loan.
I hope this information has helped.
Cheers,
Harold
I have a prepaid card in all my checks are direct deposit to that card which is checking with the account# and routing# can I used that card?
Hi James,
Thank you for your inquiry.
While we do not represent any company that we feature on our pages, we can offer you a general advice. It would be always nice to coordinate with your preferred lender to discuss what are the cards they usually allow for this loan. Typically, to apply for a Blue Trust Loans Installment Loan, you need to have an open and operating checking account.
I hope this information has helped.
Cheers,
Harold
Can I use my debit card to get the loan
Hi Stacey,
Thanks for your question.
To apply for a Blue Trust Loans Installment Loan, you need to have an open and operating checking account.
Alternatively, you may compare prepaid debit card loans here.
Kindly review the eligibility criteria and the relevant terms and conditions of the loan before submitting your application.
Cheers,
Anndy
If I get the loan from you do you out the money into my account all I need is $500.00 so how much will I pay a month. Do you put the money into my account today?
Hi Diane,
Thanks for your question.
With Blue Trust Loans, once your application is approved, they will deposit the money into your bank account as soon as the next business day.
Unfortunately, we cannot determine how much your monthly payment will be. It would be best to directly get in touch with Blue Trust Loans to get a quote.
Cheers,
Anndy
How do I apply for a payday loan on a prepaid account?
Hi Fermi,
Thanks for your question.
If you are looking to apply for Blue Trust payday loan, kindly note that one of the requirements is for you to have a checking account that has been open for a minimum period of time.
To apply for a payday loan using your prepaid card account, you may compare your options here.
Kindly review the eligibility criteria and the relevant terms and conditions of the loan before clicking the “go to site” button to submit your application.
Cheers,
Anndy
I have my own prepaid debit card, I have the acct.# and rout.# will that work?
Hi Penny,
Unfortunately, you may not be eligible to apply for Blue Trust Loan if you don’t have an open and active checking account.
Alternatively, you may consider getting a prepaid debit card payday loan.
Kindly review the eligibility criteria and the relevant terms and conditions of the loan before submitting your application.
Cheers,
Anndy
Can I get the money on my employee paycard
Hi Anonymous,
Thanks for your question.
There are actually lenders that offer payday loans and will credit the loan proceeds to your debit card. Please check this page to compare your options. Best that you review the criteria and the details of the loan product you’re interested in and get in touch directly with the lender to discuss your loan options. You can also click on the green ‘Go to site’ button when you’re ready to apply.
Hope this has helped.
Cheers,
May
I have a bank account but my bank does not support payday or installment loans.
Hi Ron,
Thanks for your question.
If your bank account does not support payday loans, you may consider getting a prepaid debit card payday loan. These loans will have the funds deposited to your prepaid debit card.
Kindly review the eligibility criteria and the relevant terms and conditions of the loan before submitting your application.
Cheers,
Anndy