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Fig Loans installment loans review

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Competitive APR — but only for a select group of states.

Bottom line: Fig Loans offers transparent installment loans with a simple repayment schedule designed to improve your overall financial health. But the loan maximum amount and limited reach means it may not meet everyone’s needs.


Min. Amount


Max. Amount


Product NameFig Loans Installment Loans
Min. Amount$300
Max. Amount$500
Loan Term4 to 6 months
RequirementsIllinois, Texas, Utah, Ohio or Missouri resident and have a valid bank account
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Expert review

Shannon Terrell

Review by

Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.

Expert review

Fig Loans is a good choice for borrowers in its six serviced states. It offers lower APR than the competition and is upfront about its costs — something you won’t find with many lenders. In addition, it can help you build your credit and doesn’t charge any late fees.

But if you don’t live in one of its serviced states, you’re out of luck. You may also want to consider other short-term loan options if you need more than $500 or want longer than four months to repay your loan.


  • Competitive short-term loan APR of 176% to 229%
  • No late fees
  • Reports payments to Transunion, Experian and Equifax
  • Early repayment discount and no late fees


  • Limited state availability
  • Low maximum loan amount of $500
  • Short loan terms

Fig Loans rates, fees and terms

Fig Loans offers installment loan of $300 to $500. The exact APR you qualify for — and the time you have to repay your loan — will depend on your state.

Loan amount APR Loan term
Florida $300 to $500 208.56% 84 days
Illinois $300 to $500 176% 180 days
Missouri $300 to $500 199% 4 months
Ohio $200 to $300 199% 4 months
Texas $200 to $300 199% 4 months
Utah $300 to $500 199% 4 months

And once you’ve paid off your first loan, your APR drops by at least 20% on any future loans. You may also be able to borrow more for a longer term.

What is Fig Loans and is it legit?

Fig Loans was founded in 2015 and is a legit installment lender. Not only does it report all repayments to the three major credit bureaus, but it also has transparent terms that clearly list the cost of borrowing. Its privacy policy covers the information it collects and how you can limit sharing, and its website is encrypted to keep your information safe.

Fig Loans is committed to providing access to affordable financial products — even if those products aren’t necessarily a Fig Loan. It works with nonprofits like United Way to help its customers get on the road to good financial health.

Compare Fig Loans to other installment loan providers

To get started, select your state and click Show me my options.

Data indicated here is updated regularly
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
OppLoans Installment Loans
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
CreditLend connection service
Varies by lender
Regular source of income, checking account, not currently involved in bankruptcy or bankruptcy relief
Find a line of credit — even if you don't have a perfect score.
 Check Into Cash Installment Loans
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+, $3,500 minimum income in California
Borrow money with lower payments and more time to pay than a traditional payday loan.
Fast5kLoans Short-term Loans Connection Service
As soon as the next business day
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.
LendYou Short-term Loans
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.

Compare up to 4 providers

Fig Loans reviews and complaints

BBB accredited No
BBB rating NR
BBB customer reviews 3.67 out of 5 stars, based on 3 customer reviews
Trustpilot score 4.9 out of 5, based on 691 customer reviews
AppStore score 4 out of 5 stars, based on 497 customer reviews
Google Play score 2.6 out of 5 stars, based on 93 customer reviews
Customer reviews verified as of 16 October 2020
Fig loans gets mostly positive online reviews. Customers are happy with the quality of customer service — and the fact that it reports repayments to credit bureaus to build credit.

Am I eligible?

To qualify, you’ll need to meet two basic requirements.

  • Live in a serviced state
  • Valid bank account

Fig Loans considers all applicants for installment loans, but you could see a better chance of approval with a credit score of at least 450.

What information do I need to apply?

Fig Loans requires you to submit the following information to verify your identity:

  • Date of birth
  • Social Security number
  • Driver’s license number
  • Bank routing number
  • Bank account number
  • Estimated monthly income after taxes

How do I apply?

Fig Loans is an online lender and only accepts applications through its website. To apply, you’ll need to visit Fig Loans and create an account. Fig Loans will review and assess your application within one business day. You’ll receive email notification containing your loan decision. If approved, your loan funds should be deposited into your bank account within three business days.

What are my repayment options?

Your loan term will depend on your state, but you can repay your loan before your due date and get a discount. If you find yourself unable to repay your loan, call or email Fig Loans to discuss extending your repayment schedule at no extra cost.

Fig Loans provides relatively inexpensive installment loans — but its limited reach means you may want to see your other short-term loan options if you don’t live in a serviced state.

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