Online installment loans

Need quick access to over $1,000? Installment loans give you just that, plus longer repayment terms.

Sometimes referred to as the more respectable cousin of payday loans, installment loans are designed for one-time expenses that need a quick fix.

Check out our guide below to learn more about how online installment loans work to see if they’re right for you.

OppLoans Installment Loans

OppLoans Installment Loans

Get fast funding up to $4,000 at reasonable interest rates.

  • Min. Loan Amount: $1,000
  • Loan Term: 9 to 36 months
  • Turnaround Time: As soon as 1 business day
  • Must be 18+ years old
  • No security deposit needed
  • Confidential and secure

    A selection of online installment loans

    Here are some providers that offer online installment loans. Keep in mind that that the maximum loan amount is based on the lender’s maximum amount. The amount will vary based on your state of residence.

    Rates last updated October 18th, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    OppLoans Installment Loans
    Installment loans with competitive rates from a top-rated direct lender.
    $4,000
    9 to 36 months
    1 business day
    Open only to residents of AL, CA, DE, GA, KS, ID, IL, MO, MS, NM, OH, SC, TN, TX, UT, VA and WI. Must have direct deposit to demonstrate sufficient monthly income.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-matching service, even with poor credit history.
    $2,500
    Varies by lender
    As soon as next business day
    Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
    CashNetUSA Loan
    Apply for a short-term loan with an easy online application and dedicated customer service.
    Varies by state
    Varies by state
    1 business day
    You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
    MoneyKey Installment Loan
    Apply for money when you need it and receive your funds as quickly as one business day.
    $1,000 (unless otherwise stated)
    Varies by state
    1 business day*
    You must be a permanent US resident or citizen, at least 18 years old, and have a regular income.
    HonestLoans Installment Loans
    Get a flexible installment loan with fast funding through one easy online application form.
    $2,500
    Varies by lender
    As soon as one business day
    Must be employed and receive regular income, earn at least $800 a month, have a checking account and be an 18+ years old legal US citizen.
    NetCredit Installment Loan
    Build a positive credit history with on-time payments and flexible repayment terms. Check your rate without affecting your credit score.
    $10,000
    Varies upon state
    1-3 business days
    Must be 18+ years old, a legal resident of the US and have a Social Security number. Minimum credit score of 550.
    Blue Trust Loans Installment Loans
    Get an installment loan from an online tribal lender. Perks for returning borrowers.
    $1,250
    6 months
    As soon as next business day
    Must be at least 18 years old and have a verifiable source of income with direct deposit into your checking account.

    Compare up to 4 providers

    A selection of lender matching services

    These lender matching services are not lenders, loan brokers or agents for any lender or loan broker. They also do not make credit decisions. They focus on trying to match you with a lender that might be able to provide you with the funds you’re looking for. Keep in mind that the maximum loan amount is based on the matching services maximum amount, but it will vary based on your state of residence. If you decide to go with one of these services, confirm that the lender is reputable by checking with your local government.

    Rates last updated October 18th, 2017
    Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
    Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
    Bad Credit Loans Personal Loans
    With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.
    $5,000
    3 to 60 months
    Varies based on lender
    Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.
    Slam Dunk Loans
    Potentially get approved for a short-term loan through this lender-matching service, even with poor credit history.
    $2,500
    Varies by lender
    As soon as next business day
    Must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
    TriangleCash Payday Loans
    If you have bad credit or no credit history, apply to be matched with a network of lenders for funding at rates that vary by state.
    $1,000
    Varies based on lender
    As soon as next business day
    You must be a US citizen, at least 18 years old, and have a valid bank account.
    SWIFT Payday Loan
    Access multiple lenders with a 5-minute application for a cash advance on your paycheck.
    $1,200
    Varies by lender
    Next business day
    Must be at least 18 years old and employed or have regular income.
    LoanSolo.com Payday Loans
    Get matched with a legit lender offering convenient payday loans and quickly get funds.
    $1,000
    Varies by lender
    As soon as one business day
    You must be 18+ years old, legally work and live in the US, have a bank account in your name and be employed with sufficient income.
    ExtraLend.com Installment Loans
    This free and simple service matches you with online lenders offering installment loans.
    $3,000
    Varies by lender
    As soon as one business day
    Must be at least 18+ years old, legally work and live in the US, have a bank account in your name and be employed with sufficient income.
    iCashLoans.com Short Term Loans
    Potentially get a loan through a network of 100+ lenders. One simple online application.
    $1,000
    Varies by lender
    Varies by lender
    Be employed, have a bank account in your name and income of at least $1,000 per month.
    CashAdvance.com Payday Loans
    Whether for emergencies or unexpected expenses, this broker may be able to match you among its nationwide network of lenders.
    $999
    Up to 12 months
    1–2 days
    You must be at least 18 years old with take-home monthly income of at least $1,000 after taxes.

    Compare up to 4 providers

    What’s an installment loan?

    Installment loans are a type of short-term loan that get their name from the way you pay them off — in installments over a period of time. They’re typically available in larger amounts than payday loans — sometimes up to $5,000 — and have longer terms. They’re also not as heavily regulated.

    Like payday loans, some installment loans are designed to attract borrowers with bad credit — but watch out: Those can come with incredibly high interest rates.

    How do installment loans actually work?

    Installment loans work by giving you all of your funds at once, which you then have to pay back plus interest in fixed amounts. Payments are usually due on your payday and last between six months and five years.

    Read our guide to how installment loans work

    What are the benefits?

    Online installment loans come with various features. Here’s what you should know if you’re considering applying for one:

    • Convenient application process. You can apply conveniently online, and some lenders even provide smartphone apps. With most lenders, you can find out about your application status in minutes, and if approved you can accept the loan contract. Once you do this you can expect the money in your bank account as early as the next business day.
    • Flexible eligibility criteria. Getting online installment loans with bad credit is possible, primarily because lending norms are slightly more relaxed. “No credit check” online installment loans generally don’t make hard inquiries on your credit score, but you’ll need to demonstrate how you’ll be able to repay the loan.
    • Variable fees. The state you live in along with the amount of money you borrow has an effect on how much you pay in fees. Not all lenders charge the same fees, so keep this in mind when comparing your options.
    • Loan amount and terms. Both these aspects depend on state laws. In some states you can borrow up to $10,000 and the repayment period can extend up to five years.

    What should I look out for?

    Sometimes people take out online installment loans even though they know they might have trouble making repayments. This something you should try to avoid because it can lead to additional charges, collection activity and damage your credit score.

    Once you get the loan, avoid making late payments. And if you set up autopay, make sure you have the enough funds in your account before each due date to avoid paying NSF fees.

    Just some of the top installment loan providers we compare

    Opp loans logoNet Credit logoBlue Trust logoRISE Credit provider logo

    Who qualifies for installment loans?

    People who qualify for installment loans typically have:

    • Verifiable income. This doesn’t mean you need to be employed. Some lenders accept alimony and pension as income.
    • An active checking account. If you don’t have a checking account, you can sometimes get a cash installment loan from a brick-and-mortar storefront.
    • Government-issued identification. Lenders might ask to see your driver’s license to verify that you meet the age requirements.

    Top four factors to consider when comparing installment loans

    1. Loan amounts. Will you be able to take out exactly how much you need? Try to avoid unnecessarily larger loans — that can lead to extra debt.
    2. Interest rates. Be skeptical of lenders that won’t give you an interest rate upfront. Try to get an estimate of your APR — your combined interest and fees — as early as you can.
    3. Fees. Will you have to pay a fee to apply? To get your loan? What are the conditions for late payments?
    4. Loan terms. Your loan term will determine how long you have to repay it. It’ll also determine how much you pay in interest — a longer-term loan might seem more manageable but it could end up being hugely expensive.

    Is an installment loan right for me?

    You may want to consider an installment loan for the following reasons:

    • Fast turnaround time. Providers of online installment loans tend to process your application very quickly, sometimes in minutes. If you accept the loan contract, you can get your money as soon as the following business day.
    • Bad credit applicants are accepted. Conventional loans normally come with stringent lending criteria, but most employed people can consider applying for online installment loans with bad credit, as long as they can show their ability to repay the loan.
    • More manageable repayments structure. Unlike short-term loans or cash advance loans that you have to repay by your next payday, you can take longer to repay your installment loan. Most lenders even give you the ability to choose between making payments once or twice a month.

    You may want to consider other options if you’re concerned about:

    • Fees. Online installment loans normally charge higher fees especially in comparison with more conventional forms of credit.
    • Higher repayments due to higher loan amounts. Installment loans have higher loan amounts than standard payday loans, and while you have lower ongoing repayments because you’re paying it back over time, the APR can still be quite high, resulting in a total overall repayment. Make sure the repayments are manageable on your budget.

    Bottom line

    Getting an online installment loan can be a good idea if you want some more time to repay the money you borrow, but given the choices on offer, make sure you compare a few before applying.

    Some questions you might have had

    If you have all the required information easily accessible, completing your application should take around 5 to 10 minutes. Much the same as a payday loan.

    Remember that not all lenders provide installment loans in all states. In states where they do, you have to meet minimum age requirements, you should show you have a regular source of income, and you that you have an operational bank account.

    You’ll have to provide personal details, employment details, and your bank account details.

    The answer to this question lies in how you’ve been making payments, your total credit limit and a whole range of other factors found here.

    Are payday loans available in my state?


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    8 Responses

    1. Default Gravatar
      AnnetteSeptember 5, 2017

      I have applied for an emergency installment loan and my credit is not good. I keep getting redirected to others.

    2. Default Gravatar
      RichardAugust 29, 2017

      I need to consolidate my debt of less than $1000. But i am on disability so income is limited, and have no credit…not bad credit. What is the wises way to do this

      • Staff
        AshAugust 29, 2017Staff

        Hi Richard,

        Thank you for reaching out to us.

        You may consider getting a Personal Loan to pay off your debts through the list of lenders on this page.

        Furthermore, you may find some insight regarding Debt Consolidation through this page as it also have the available lenders that can offer you a loan.

        Kindly review first the Lender’s eligibility requirements and the loan details before submitting your application. You can click on the green ‘Go to site’ to be redirected to the Lender’s website.

        I hope this information helps.

        Let us know if there is anything else that we may assist you with.

        Cheers,
        Ash

    3. Default Gravatar
      RayMay 2, 2017

      I am from Papua New Guinea, am I eligible to apply for loan here?

      • Staff
        HaroldJuly 5, 2017Staff

        Hi Ray,

        Thank you for your inquiry.

        Lenders provide installment loans in all states. In states where they do, you have to meet minimum age requirements, you should show you have a regular source of income, and you that you have an operational bank account. Also, you’ll have to provide personal details, employment details, and your bank account details.

        I hope this information has helped.

        Cheers,
        Harold

    4. Default Gravatar
      RaskullApril 1, 2017

      Can I get an installment loan depisited on a debit card?

      • Staff
        HaroldJuly 11, 2017Staff

        Hi Raskull,

        Thank you for your inquiry.

        Generally, loans are deposited in your existing bank account as soon as one business day after approval.

        I hope this information has helped.

        Cheers,
        Harold

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    Slam Dunk Loans

    Potentially get approved for a short-term loan through this lender-matching service, even with poor credit history.

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    LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.

    Check into Cash Payday Loan

    With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.

    OppLoans Installment Loans

    Installment loans with competitive rates from a top-rated direct lender.