If you’re looking to borrow money but don’t have the credit score to go through a traditional bank, Eagle might be able to help. However, you won’t know what interest rate or fees you’ll be charged until after you apply. And it’s only open to residents of four states.
$1,000
Min. Amount
$10,000
Max. Amount
1 business day
Turnaround time
| Product Name | Eagle installment loans |
|---|---|
| Min. Amount | $1,000 |
| Max. Amount | $10,000 |
| Loan Term | 8 months to 2 years |
| Loan Security | Unsecured |
| Turnaround Time | 1 business day |
| Requirements | Proof of income, checking account, debit card, proof of address, government-issued ID, live in eligible state, US citizen or permanent resident, ages 18+ |
Eagle installment loans range from $1,000 to $10,000 and are paid back over eight to 24 months. While Eagle refers to itself as an alternative to payday lenders, it’s not transparent about what rates or fees it charges. This means you won’t know how much it costs to borrow until after you apply for a loan.
Though these installment loans are unsecured — meaning they don’t require collateral — you can back your loan with your vehicle to increase your chances of approval. However, you risk losing your car if you’re unable to afford the repayments.
It’s not the fastest lender, either. While you can apply online in just a few minutes, it could take up to a business day to hear back about a decision. And if you’re approved, you’ll then need to visit your local branch to sign your loan documents and receive your funds.
Eagle installment loans are available in four states throughout the Midwest:
Here are a few perks of taking out an Eagle installment loan:
Consider these potential drawbacks before borrowing from Eagle:
As Eagle’s own website cautions, banks typically offer better rates than installment or payday loan providers. And the fact that Eagle doesn’t advertise what rates and fees it charges is another red flag. Add to this former borrowers’ complaints about Eagle’s high interest rates and origination fees, and you might want to consider these payday loan alternatives first.
In general, yes — though no online company can ensure your information stays 100% secure. Eagle does its part by including a disclaimer on its website warning borrowers to beware of scams. It also mentions that it will never ask you to send cash or money orders as a condition of your approval.
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 3.63 out of 5 stars, based on 16 customer reviews |
| BBB customer complaints | 25 |
| Customer reviews verified as of | 16 October 2020 |
To qualify for an Eagle installment loan, you need to meet the following criteria:
You can apply for an Eagle installment loan online, over the phone or in person at one of its 50 offices across Tennessee, Indiana, Kentucky and Ohio.
Follow these steps to begin the application process online:
You should hear back about a decision in one business day. If you’re approved, you’ll need to visit your local Eagle storefront to sign your loan documents and receive your funds.
When applying for an Eagle installment loan, have the following documents on hand:
If you’re using your car as collateral for the loan, you’ll also need to provide your lien-free car title.
It’s time to start thinking about repayments. You might want to ask if you can sign up for autopay so you don’t have to worry about manually making a payment each month. If you have any questions, reach out to Eagle’s customer service team by calling 800-900-2130 or visiting your local branch.
Eagle installment loans may be open to borrowers of all credit types, but it’s not transparent about what rates and fees it charges. And past customers don’t have many good things to say about the lender.
See how Eagle stacks up to the competition with our guide to short-term loans.
