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Eagle installment loans review

While its open to all credit types, it's not transparent about rates and fees.

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.

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Min. Amount


Max. Amount

1 business day

Turnaround time


Product NameEagle installment loans
Min. Amount$1,000
Max. Amount$10,000
Loan Term8 months to 2 years
Loan SecurityUnsecured
Turnaround Time1 business day
RequirementsProof of income, checking account, debit card, proof of address, government-issued ID, live in eligible state, US citizen or permanent resident, ages 18+

What is an Eagle installment loan?

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.

What states are Eagle installment loans available in?

Eagle installment loans are available in four states throughout the Midwest:

  • Kentucky
  • Ohio
  • Indiana
  • Tennessee

What are the benefits of Eagle installment loans?

Here are a few perks of taking out an Eagle installment loan:

  • Open to all credit types. Eagle is willing to work with borrowers with less-than-perfect credit.
  • Collateral accepted. Though not required, you can choose to use your car as collateral to increase your chances of approval.
  • Past bankruptcies OK. You may still qualify for a loan with Eagle even if you’ve gone through a bankruptcy in the past.

What to watch out for

Consider these potential drawbacks before borrowing from Eagle:

  • Not transparent about rates and fees. You won’t know how much it costs to borrow with Eagle until after you apply for a loan.
  • Poor customer reviews. Former borrowers complain about high origination fees and difficulty getting unwanted credit insurance removed from their loan.
  • Slow turnaround. It could take up to a day to hear back about approval — other lenders offer decisions in minutes.
  • Not entirely online. Though you can apply online, you’ll need to visit a branch to sign your loan documents and receive your funds.

Compare to other installment loan providers?

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Name Product Filter Values Loan amount Turnaround time Requirements
LendYou Short-term Loans
Finder Rating: 2.5 / 5: ★★★★★
LendYou Short-term Loans
Up to $1,000 for payday loans and up to $5,000 for installment loans
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$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
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Cash App
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$20 to $200
Same day
Deposit at least $1,000 per month into your Cash App account
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Get up to $100 per day or $750 per pay period.
1 to 2 business days, or in minutes with Lightning Speed.
Direct deposit sent to a checking account, a regular pay schedule, a fixed work location or an online timekeeping system at work
No mandatory fees, no interest, and no credit checks. Subject to EarnIn terms & conditions
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$20 to $250
3 to 4 days standard transfer. Same day with $3.99 express fee.
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Up to $250
2–3 business days or instant for a fee
Checking account 2+ months old receiving direct deposit, 2+ months working for the same employer, positive account balance, most recent paycheck was on-time, funds still available in bank account 24 hours after most recent payday.
Advance up to $250 from your paycheck plus get access to your paychecks up to 2 days early with direct deposit.
Fast5kLoans Short-term Loans Connection Service
Finder Rating: 3.5 / 5: ★★★★★
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
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Regular source of income, Verifiable bank account, US citizen, Ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
Fig Loans Installment Loans
$50 to $100, varies by state
As soon as the same business day
3 months of direct deposits, $1400 per month income, positive bank account balance
Get an affordable installment loan that comes with no fees, flexible terms and predictable monthly repayments.

Beware of high rates and fees

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.

Is it safe to apply for Eagle installment loans?

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.

Eagle reviews and complaints

BBB accreditedYes
BBB ratingA+
BBB customer reviews3.63 out of 5 stars, based on 16 customer reviews
BBB customer complaints25
Customer reviews verified as of16 October 2020
Eagle gets mixed reviews online. Many reviewers complain that Eagle’s staff became aggressive with repossession and collection after a few late payments. Another had an issue with their payments going through. And still others complained about high interest rates and fees. One customer was even asked to sign their loan contract before knowing what their interest rate was.

Am I eligible?

To qualify for an Eagle installment loan, you need to meet the following criteria:

  • Proof of income
  • Proof of address
  • Government-issued ID
  • Checking account
  • Debit card
  • Live in Tennessee, Indiana, Kentucky or Ohio
  • At least 18 years old
  • US citizen or permanent resident

How do I apply?

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:

    1. Go to Eagle’s website and click Apply Here.
    2. Enter how much you want to borrow, the purpose of the loan and your ZIP code.
    3. Check whether you’re applying individually or with a coapplicant.
    4. Select how you heard about Eagle and click Apply Now.
    5. Fill out the application with your personal and employment details.
    6. Click Submit.

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.

What documents do I need to apply?

When applying for an Eagle installment loan, have the following documents on hand:

      • Proof of income, like a recent pay stub or benefits statement
      • Proof of address, like a utility bill
      • Government-issued ID
      • Debit card
      • Checking account statement

If you’re using your car as collateral for the loan, you’ll also need to provide your lien-free car title.

I got an Eagle installment loan. Now what?

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.

Bottom line

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.

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