Online installment loans

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

A short term installment loan lets you repay the borrowed amount in fixed installments over a period of time. You have the option of applying for an installment loan online, and if you’re approved the lender will transfer the money directly into your bank account.

Just how much you can borrow and loan terms depend on the state you live in. If you apply for an online installment loan in Ohio, you won’t be offered the same terms as if you applied in Texas. Find out about the how installment loans work in the guide below.

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: 1 business day
  • Must be 18+ years old
  • No security deposit needed
  • Confidential and secure

    A selection of online installment loans

    Here are some loan providers that you can apply to. Note that the max loan amount is based on the lender’s max amount. The amount will vary based on your state of residence.

    Rates last updated August 22nd, 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
    OppLoans Installment Loans
    Get a better installment loan repayment terms up to 36 months, depending on your state.
    $4,000
    9 to 36 months
    1 business day
    Slam Dunk Loans
    Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.
    $2,500
    Varies by lender
    As soon as next business day
    NetCredit Installment Loan
    Build a positive credit history with on-time payments through flexible repayment options that include credit card and money transfer.
    $10,000
    Varies upon state
    1-3 business days
    Cash Central Installment Loan
    Pay monthly or biweekly over six to 24 months with lower APRs over your typical payday loan.
    $5,000
    6 to 24 months
    Next Business Day

    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 the funds you seek. Note that the max loan amount is based on the matching services max amount, but it will vary based on your state of residence. If you proceed with one of these services, confirm that the lender is reputable by checking with your local government.

    Rates last updated August 22nd, 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
    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
    Slam Dunk Loans
    Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.
    $2,500
    Varies by lender
    As soon as next business day
    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
    SWIFT Payday Loan
    Access multiple lenders with a 5-minute application for a cash advance on your paycheck.
    $1,000
    Varies by lender
    Next business day
    iCashLoans.com Short Term Loans
    $1,000
    Varies by lender
    Varies by lender
    CashAdvance.com Payday Loans
    Whether for emergencies or unexpected expenses, this broker may be able to match you among its nationwide network of lenders.
    $1,000
    Up to 12 months
    1–2 days

    Compare up to 4 providers

    How do installment loans actually work?

    Installment loans are generally available for larger amounts than short term loans – some up to $5,000 – with the repayments being ongoing. This can be a little more financially feasible than one lump sum, as with a short term loan. Repayment terms vary depending on the state you’re applying from, but could be as long as 14 months.

    You can apply for an online installment loan through a direct lender or a loan matching service. The latter helps you match your application with suitable lenders. You’re generally able to pay an installment loan off early without repayment penalties.

    Read the guide to how installment loans work

    What features do installment loans offer?

    Online installment loans come with various features, and if you’re considering applying, here’s what you should know:

    • 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 typical 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.

    Just some of the top installment loan providers we compare

    Opp loans logoNet Credit logoBlue Trust logoRISE Credit provider logo

    Pros and cons of installment loans

    • Fast turnaround time. Providers of online installment loans tend to process your application very quickly, informing you of their decision in a matter of 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 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.
    • Fees. Online installment loans normally charge higher fees especially in comparison with more conventional forms of credit.
    • Higher loan amounts mean higher repayments. 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.

    “I want to apply, but is there anything I should avoid?”

    There are numerous instances of people taking online installment loans even though they know they might have trouble making repayments. This is a situation you should try to avoid because it can lead to additional charges, collection activity, and it can also have a negative impact on your credit score.

    Once you get the loan, avoid making late payments or you could have to pay have to pay late charges, and make sure you have the required funds are in your account on every due date to avoid paying NSF fees.

    Some questions you might have had about these loans

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


    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, ensure you compare a few before applying.

    Was this content helpful to you? No  Yes

    Ask an Expert

    You are about to post a question on finder.com:

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and our Privacy Policy.

    4 Responses

    1. 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

    2. 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

    US Payday Loans Offers

    Learn about our information service
    Slam Dunk Loans

    Get approved for a cash loan today with this lender matching service offering short term funding. Availability depends on your state of residence.

    LendUp Payday Loans

    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

    Get a better installment loan repayment terms up to 36 months, depending on your state.

    feedback