OppLoans installment loans review

If you need cash right away, an installment loan from OppLoans could get you fast funding with loans from $1,000 to $4,000.

Opploans installment loans have shorter terms than personal loans, and they claim their interest rates are better than their competitors.

Read our guide below to determine if Opploans is the right lender for you.

Product NameOppLoans Installment Loans
Min Loan Amount$1,000
Max. Loan Amount$4,000
Loan Term9 to 36 months
Turnaround Time1 business day
CostsDepends on state of residency.
RequirementsOpen only to residents of Alabama, California, Delaware, Georgia, Idaho, Illinois, Missouri, New Mexico, Ohio, South Carolina, Texas, Utah, and Wisconsin.


  • Funding in as little as 1 business day.
  • Repayment terms from 9 to 36 months.


  • Not available in all 50 states.
  • Possibly high interest rate.
  • You live in one of the following states: Alabama, California, Delaware, Georgia, Idaho, Illinois, Kansas, Mississippi, Missouri, New Mexico, Ohio, South Carolina, Tennessee, Texas, Utah, Virginia, or Wisconsin.
  • You 18 years+ old. (19+ in Alabama.)
  • You are NOT an active duty service member or a dependent of a member of the military.
  • You are currently employed for at least 3 months.
  • You have a bank account in your name with at least 90 days of history.
  • You receive your paychecks through direct deposit (not a requirement in New Mexico).

Do I qualify?

To qualify for an installment loan through OppLoans, you must:

  • Live in one of the lender’s serviced states: Alabama, California, Delaware, Georgia, Idaho, Illinois, Kansas, Mississippi, Missouri, New Mexico, Ohio, South Carolina, Tennessee, Texas, Utah, Virginia or Wisconsin.
  • Be at least 18 years old.
  • Have a valid Social Security number.
  • Be able to show proof of consistent income and an open bank account.

Why should I consider OppLoans for an installment loan?

OppLoans allows you to get funding in as little as one business day. Rates offered are advertised as less than other payday or installment loans, and making regular, on-time payments could help improve your credit score.

Applying online is easy, and if you’re approved, you’ll receive a contract containing the terms of your loan. Once you sign, you’ll receive your funds from OppLoans via direct deposit into your account.

Other benefits of going with Opploans:

  • An easy online application process
  • Longer repayment terms than other short-term loans
  • No prepayment penalties or financing fees

What should I watch out for?

Carefully scrutinize any short-term loan before applying. Even though OppLoans bills itself as offering lower interest than other payday loans, payday loans are still the most expensive type of loan you can obtain. Interest could cost you between $17 and $35 per every $100 you borrow for a two-week period.

Other areas to be aware of with OppLoans:

  • Limited availability. OppLoans doesn’t operate in every state so you won’t qualify if you don’t live in one of the states it services.
  • High interest. Because Opploans provides loans to people with less-than-perfect credit, the interest rates tend to be very high. Consider if you really need the funds now, and consider all of your options. According to OppLoans’ disclosures, 4 out of 10 people who take out a loan will need to renew the loan at least once.

Our article on Opploans should give you all the info you need

Specific fees for California, Ohio and Texas residents
  • If you live in California, you’ll pay a $75 administrative fee. Late and returned checks will incur a $15 fee.
  • Late fees in states other than California will not exceed 5% of the unpaid amount.
  • If you live in Ohio, monthly Credit Service Organization fees range from 8% to 15% of the loan amount. You’ll also pay 15% interest on the loan principal.
  • If you live in Texas, you’ll pay a $30 fee for all returned checks.

How do I apply?

Confirm that you’re a resident in one of the states OppLoans services. Then click the “Go to Site” button on this page to be directed to OppLoans’s application form.

To apply, you’ll need to provide your personal information, including your Social Security number and driver’s license or state ID number.

If approved, you could receive your funds as soon as the next business day.

Eligibility requirements:

  • Be at least 18 years old
  • Be a citizen or permanent resident of the US
  • Have a regular source of income
  • Have an open bank account

Required information:

  • Your contact details, including your name, address, email and phone number
  • Your bank account details
  • Your income and employment details

Are payday loans available in my state?

Frequently asked questions

Opploans offers installment loans in the following states:

  • Alabama
  • California
  • Delaware
  • Georgia
  • Idaho
  • Illinois
  • Mississippi
  • Missouri
  • New Mexico
  • Ohio
  • South Carolina
  • Texas
  • Utah
  • Wisconsin

Opploans also offers lines of credit in the states below:

  • Kansas
  • Tennessee
  • Virginia

Installment loans are paid back in multiple payments, typically scheduled once or twice a month based on your payment schedule.

Loans are available for $1,000 to $4,000 depending on the types of loans offered in your state of residence.

Usually loans are deposited in your bank account as soon as one business day after approval, though it might take longer depending on your bank’s processing procedures.

No, your credit won’t be impacted by applying for a loan.

It may. Although many payday and installment loan lenders don’t require the best credit score in order to take out a loan, they may report you to one of the big three credit bureaus based on your inability to repay. Keep in mind that a loan is a contract. You are required to pay on schedule and should not take out a loan if you aren’t sure you’ll be able to repay.

You can repay your loan early and make additional payments at no additional charge.

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6 Responses

  1. Default Gravatar
    WeedaAugust 14, 2017

    Do you over loans in the amount of 30,000.00 in california?

    • Staff
      HaroldAugust 15, 2017Staff

      Hi Weeda,

      Thank you for your inquiry.

      While we do not represent any company that we feature on our pages, we can offer you a general information. You may want to compare your loan options in California here. – http://bit.ly/2i0Off0

      I hope this information has helped.


  2. Default Gravatar
    EmberJune 9, 2017

    Does opp loans work with people who are receiving unemployment benefits ? I’ve found that a lot of loan places will not accept that form of income.

    • Staff
      HaroldJune 15, 2017Staff

      Hi Ember,

      Thank you for your inquiry.

      Unfortunately, OppLoans requires that you must be able to show proof of consistent income. However, you might be interested with the other options here.

      I hope this information has helped.


  3. Default Gravatar
    AaronMarch 16, 2017

    Why do I have to include access ID an passcode under bank information on opploan application? This appears to be for my personal bank account .. I understand account number , checking or savings, and bank name but don’t understand why info needed an if it’s for login to personal online bank app..??

    • Staff
      HaroldJuly 18, 2017Staff

      Hi Aaron,

      Thank you for your inquiry.

      In general, Payday lenders ask for your Internet banking details because it gives them a way to access your statements. This is one way payday lenders are able to process your application much faster than banks. Instead of you emailing your bank statements from the past three months, you provide your logins and the lender can access them instantly.

      I hope this information has helped.