A RISE Credit installment loan could get you the money you need quickly with flexible repayment terms.
What is an installment loan?
An installment loan is a short term loan that generally offers larger amounts and longer repayment terms through a set number of payments.
RISE Credit offers installment loans between $500 and $5,000. Although flexible repayment terms are available, interest will continue to accrue over the term, so a longer term will mean that you pay more over the life of the loan.
|Product Name||RISE Credit Installment Loans|
|Min Loan Amount||$500|
|Max. Loan Amount||$5,000|
|Requirements||You must be 18 years old (19 in AL) or older, live in a state they service and have the following: a regular source of income, a checking account and an email address.|
- Must be at least 18 years old (19 in AL).
- Live in a state we service.
- Have a job or regular source of income.
- Have an active and valid checking account (savings and prepaid accounts not accepted).
- Have an email address to receive account information.
RISE Credit offers installment loans in Alabama, California, Delaware, Georgia, Idaho, Illinois, Missouri, New Mexico, North Dakota, Ohio, South Carolina, South Dakota, Texas, Utah and Wisconsin.
Fees and interest rates vary by state, and APRs can be as low as 36%–299%%, depending on your creditworthiness. You can learn more about your state’s specific rates on RISE Credit’s website.
What are the benefits of installment loans?
- Longer repayment terms. It may be more affordable to pay a small amount each month.
- Quick approval. You can typically get money in as little as one business day.
- High maximums. Loans can be for as much as $5,000 in some states.
- Build your credit score. You could be offered better APRs as a returning customer with good payment history.
What to watch out for
Interest accrues until the principal is paid off. This loan could cost more than a traditional payday loan if you don’t completely pay off the principal on time.
- Fees. Some states charge origination cost and late fees.
- Variable APR. Interest rates may be higher if you have a low credit score.
Compare RISE Credit to other online installment loan providers
Am I eligible for a RISE Credit installment loan?
Getting an installment loan through RISE Credit is a quick and easy way to get the money you need. To be eligible, you must:
- Be 18 or older and a US citizen or permanent resident.
- Reside in one of the 15 states it services.
- Have a bank account.
- Have a phone number and valid email.
- Be able to prove a source of income.
What information do I need to apply?
- Government-issued ID. You’ll need a driver’s license and Social Security number.
- Banking information. Including your bank name, account type, account number and routing number.
- Employment information. Name of employer, monthly income, last day paid and next pay date.
I got an installment loan from RISE Credit. Now what?
- Pay more when possible. There’s no penalty for paying your loan early, which could help you avoid unnecessary interest and fees.
- Contact customer support. Call a representative with questions or to discuss payment options.
RISE Credit lets you improve your credit while getting money when you need it fast. However, you may want to compare other short term loan lenders in your area to make sure that you get the lowest APR and fees for your needs.