There are times in life when you need a little extra cash to pay off bills, consolidate your debt or cover an unexpected expense. An installment loan from KwikCash offers installment loans to get through a tough financial period, even if you don’t have the best credit. Our review outlines everything you’ll need to know about KwikCash before you apply.
$10,000
Max. Amount
| Product Name | KwikCash Installment Loan |
|---|---|
| Max. Amount | $10,000 |
| Loan Term | 36 to 60 months |
| Loan Security | Unsecured |
| Requirements | Open checking account, be a California resident, have social security number, ages 18+ |
KwikCash offers unsecured installment loans for residents of California who have a range of credit scores and personal needs. Loan amounts go up to $10,000, although higher loan amounts are reserved for people with better credit scores and a solid history of timely payments.
Installment loans are known to have high interest rates, and KwikCash is no exception. APR ranges from 87% to 99%. In order to make your loan more affordable, KwikCash won’t charge any fees on top of interest. That means there are no application or monthly service fees.
If you need a larger loan, KwikCash could be the solution to your financial troubles. The application process is relatively simple, and you could have your funds within a few days.
Like all installment loans, KwikCash is an expensive product. While interest rates vary, they’ll generally be higher than an equivalent loan from a bank or credit union. As with other credit options, we recommend you only borrow the amount you need and be sure to budget your monthly payments.
| BBB accredited | Yes |
|---|---|
| BBB rating | A- |
| BBB customer reviews | 4.74 out of 5 stars, based on 19 customer reviews |
| BBB customer complaints | 4 |
| Trustpilot score | 4.8 out of 5, based on 570 customer reviews |
| Customer reviews verified as of | 16 October 2020 |
Yes. KwikCash has a valid security license on their website that you can view by checking that the URL begins with https instead of http. This ensures any information you enter onto the KwikCash website is encrypted and secured by a secure socked layer (SSL) of up to 256 bits. In addition, all employees of KwikCash are required to sign and abide by a privacy policy that prevents them from disclosing borrower information. You can learn more by visiting the Privacy Policy section on the KwikCash website.
In order to borrow an installment loan from KwikCash, you’ll need to meet some basic eligibility requirements before you’re considered for approval. You must:
KwikCash has a simple application process for users short on time. The first step is the basic application where you’ll need to submit personal information, including your address, Social Security number, employment and income information, the purpose of your loan and the amount you would like to borrow.
If your application is preapproved, you’ll be contacted by one of the members of KwikCash’s customer service team. From here, you’re guided through the next steps. Your documents are reviewed by KwikCash’s underwriting team, and if you’re approved, your funds will be transferred to your bank account, sometimes as soon as the next business day.
These are the documents you will need to submit:
Once your loan is deposited into your bank account, you’re required to start making monthly payments until your loan is paid off in full. KwikCash doesn’t charge prepayment penalties, so save on interest by paying more than your minimum payment each month.
Remember that a loan is a contract, and if you don’t make timely payments, KwikCash may choose to submit your missed payments to a credit bureau. This can show up on your credit report and damage your future chances of getting a loan.
KwikCash is an installment loan lender that works with California residents to provide clear, comprehensive loans no matter the situation you find yourself in. However, it’s crucial to compare your options before you borrow to be sure you’re getting the best terms and loan service for your needs.
