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||$1,250|
|Loan Term||6 months|
|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.|
If you need money quick, you can apply online for a short term installment loan from Blue Trust Loans. These loans act as an alternative to payday loans, and 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%, 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 company can 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 $1,250 into your bank account as quick as the next business day.
Blue Trust Loans Installment Loans Features
- 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.
- Qualification requirements. To qualify for Blue Trust Loans, you must have an operating checking account and verifiable source of income; both of which must meet the company’s minimum requirements. You also cannot be a debtor or in a bankruptcy case.
- Payment schedule. The payment schedule is based off of your income schedule. For example, if you are paid biweekly, you will have 12 payments. If you get paid weekly, you will have 24 loan payments. If you are paid monthly, your loan will have six payments. Terms are typically six months.
- Loan amount. You can choose to borrow from $100 to $1,250. The max loan amount may be lower for first-time borrowers.
- Fees. Specific fee amounts aren’t provided on the website, but you can expect a fee for things like late, partial, and absent payments.
How does Blue Trust Loans compare to other installment loans?
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:
- 18 years old
- 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:
- Requested loan amount
- Social security number
- Residential address
- Email address
- Phone number
- Income information
- Bank account information
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.