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Best Installment Loans for Bad Credit with Monthly Payments (2026)

Compare interest rates, loan terms and requirements for our top picks of installment loans for bad credit.

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By

Lacey Stark

Edited by

Megan B. Shepherd

Updated

Fact checked

Installment loans typically refer to short-term loans, similar to payday loans. However, unlike payday loans, installment loans allow you to borrow more money and pay it back over a longer period. Check out our top picks of installment loans for people with bad credit.

Key takeaways

  • Bad credit installment loans let you borrow and repay over time in fixed monthly payments — unlike payday loans, which require full repayment on your next payday, installment loans offer terms from a few months up to five years and loan amounts typically ranging from $500 to $10,000.
  • The cost of borrowing with bad credit can be steep — rates can reach 300% or more depending on the lender and your credit profile, though some lenders like Avant start as low as 9.95% for scores around 550. If your score is 600 or above, a personal loan capped at 36% may be within reach.
  • Most lenders don’t have a minimum credit score, but they do require a steady income and an active bank account — some also require direct deposit and set minimum monthly income thresholds, so check the specific requirements before applying.
  • Some installment lenders report your payment history to the credit bureaus — OppLoans is one example — which means making on-time payments can actually help you build credit while you repay.
  • Before applying, consider lower-cost alternatives — cash advance apps typically charge no interest or late fees, payday alternative loans (PALs) from federal credit unions cap rates at 28%, and personal lines of credit from banks or credit unions may offer better terms than a bad credit installment loan.
This summary was generated by AI and may contain errors or omissions.

Best installment loans for bad credit

Best for low rates

Avant personal loans

6.8 Standard

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Avant offers installment loans up to $35,000 with rates between 9.95% and 35.99% — much lower than some competitors. It also gives you longer to pay it back, with loan terms up to 60 months. Plus, it accepts income from self-employment, which makes it stand out from the crowd. But it charges an administration fee of up to 9.99%, loan amounts vary by state and it's not available nationwide.

Min. credit score 550
APR 9.95% to 35.99%
Loan amount $2,000 to $35,000
  • Not available in: Iowa, Kentucky, Massachusetts, Michigan, Montana, Virginia, West Virginia

Best for no hard credit check

OppLoans Installment Loans

8.8 Great

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Typically, when you apply for an installment loan, a hard credit check is required, which can hurt your credit whether you're approved or not. OppLoans only conducts a soft credit check, meaning your credit score won't take a hit. Plus, unlike some lenders, OppLoans reports your payment history, so it can actually help you build credit. But its rates are higher than some lenders, you need to get paid by direct deposit and it's not available in every state.

Min. credit score Bad credit accepted
APR 129% to 195%
Loan amount $500 to $5,000
  • Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, Oregon, South Dakota, Vermont, West Virginia

Best for easy application process

Integra Credit installment loans

8.2 Great

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Integra Credit provides a fast and easy application process that can give a decision almost instantly and funding by the next business day. It offers installment loans from $500 to $3,000 and loan terms from 10 to 21 months. It also offers a personal line of credit product in select states. But its rates are higher than some competitors, actual loan amounts vary by state and it's not available nationwide.

Loan Amount $500 - $3,000
APR 149% to 399%
Turnaround time Within minutes
  • Available in: Alabama, Arizona, Arkansas, California, Delaware, Florida, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Mexico, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Wisconsin

Best for larger loan amounts

NetCredit personal loans

4.9 Basic

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For the most part, installment loans for bad credit top out at $5,000 or less, but NetCredit offers loans up to $10,000. It has generous loan terms from six months to five years. Its rates are also more reasonable than some of the competition, starting at 34% — although they can go as high as 99.9%. NetCredit isn't available in every state, and loan amounts vary by state.

Min. credit score No minimum
APR 34% to 99.9%
Loan amount $1,000 to $10,000
  • Not available in: Colorado, Connecticut, Iowa, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New York, North Carolina, Pennsylvania, Vermont, West Virginia

Best for small loan amounts

Possible Finance Mobile Installment Loans

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If you only need to borrow a small amount and like the convenience of applying from your phone through a mobile app, Possible is an option for you. It offers loan amounts up to $500 and doesn't require a credit check or charge late fees. You can also receive funding as soon as the same day. But it charges anywhere from $10 to $25 per $100 borrowed depending on what state you live in, loan terms are short and it's not available everywhere.

Loan Amount $50 - $500
APR Varies by state; fees are $10–$25 per $100 borrowed in most states
Turnaround time As fast as 1 business day
  • Not available in: Alaska, Colorado, Connecticut, District of Columbia, Georgia, Illinois, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New Mexico, New York, North Dakota, Pennsylvania, South Dakota, West Virginia, Wisconsin

Methodology: How we picked the best providers

Finder loan experts compare dozens of lenders before narrowing down the best installment loans for bad credit in the current market, and we regularly review our selections. Factors we consider include loan amounts, interest rates, fees, reputation and customer reviews.

Factors weighed in our methodology for the best installment loans for bad credit include:

  • Turnaround times
  • Range of interest rates
  • Additional fees charged
  • Credit requirements
  • Range of loan amounts
  • Repayment options
  • Better Business Bureau ratings and reviews
  • Trustpilot ratings and reviews
  • Number of states served

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Finder Score Loan amount Turnaround time Requirements
9.4 Excellent
Up to $250 today. Build up to $1,000 over time with direct deposit at Varo. Average loan: $195. Qualifications Apply.
Instant, once qualified
You must have an active Varo Bank Account with a positive balance, no delinquent Varo Line of Credit or charged off Believe account in prior 6 months. Varo Advance qualification is subject to evaluation of consumer reports and Varo account activity.
Important information
Varo Advance qualification is subject to evaluation of consumer reports and Varo account activity. If approved, initial limits range from $20- $250. Unlock higher limits up to $1,000 over time when you bring your qualifying direct deposit to Varo and build a positive history with us. Negative repayment history may impact credit. Fees range from $1.60 - $100 based on loan amount, and deposits to your Varo Bank Account. Your current limit and applicable fees can be viewed in the Varo App. Qualifying direct deposits are electronic deposits of your paycheck, pension or government benefits (such as Social Security or unemployment) from your employer or government agency to the extent that can be identified. Tax refunds and government stimulus payments, Person-to-Person payments (such as Venmo +or Varo to Anyone), and funds deposited using a Varo routing number are not considered a direct deposit.
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9.5 Excellent
Up to $150/day, with a max of $1000 between paydays
1-2 business days standard, in minutes with a small fee
At least 18 and a US resident, Valid Social Security number, At least 60 days of banking history, Proof of consistent income, Positive bank balance, Get paid by direct deposit.
Access up to $150 per day, with a max of $1000 between paydays. Not available to CT or Washington, D.C. residents. Subject to EarnIn terms & conditions.
Important information
EarnIn is not a bank. Access limits are based on your earnings and risk factors. Available in select states. Terms and restrictions apply. Visit EarnIn.com for full details. Expedited transfers available for a fee. Visit Earnin.com for full details.
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8.2 Great
$20 to $250
3 to 4 days or instant for a fee.
Not stated
Automatically monitor your spending plus access cash advances up to $100 at a time.
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OppLoans logo
9.4 Excellent
OppLoans Installment Loans
9.4 Excellent
$500 to $5,000
As soon as the same business day
+18 years old, Receive paychecks through direct deposit, $1,500 minimum monthly income, Live in eligible state
Not available in: CO, CT, GA, IA, MD, MA, NY, SD, VT, WV. Comes with the option to change your due date so you won’t fall behind on repayments.
Important information
The advertised APR is an estimate based on currently available information, is not final, and is subject to change. If approved, your actual rate will be determined and assigned based on your creditworthiness, income, application information, and other relevant factors. Applications submitted on the OppLoans platform will be originated by one of our bank partners and serviced by OppLoans. Please see the Rates and Terms for details regarding the availability of products in your state of residence. Subject to credit approval and verification. Actual approved loan amount and terms are dependent on our bank partners’ standard underwriting guidelines and credit policies. Funds may be deposited for delivery to your bank via ACH as soon as the same business day if verification is completed and final approval occurs before 12:00 PM CT on a business day. If approval occurs after 12:00 PM CT on a business day or on a non-business day, funds may be delivered as soon as the next business day. Availability of the funds is dependent on how quickly your bank processes the transaction. Installment loan amounts typically range from $500 to $5,000. Annual percentage rate (APR) ranges from 129% to 195%. Installment loan lengths range from 9 to 18 months. Example: A $2,000 installment loan repayable in 9 monthly payments with an APR of 160% would have monthly payments of $394.58. Loan amount, APR, and repayment terms may vary by state, please see https://www.opploans.com/rates-and-terms for additional information. Approval is not guaranteed. If approved, your actual rate will fall within the marketed range of rates, and will be determined and assigned based on your creditworthiness, income, application information, and other relevant factors. Not all applicants will qualify for the lowest available rates. This is an expensive form of credit and you should determine whether the offered product(s) meets your financial needs. OppLoans’ Bank Partners may use credit report information provided by Clarity Services and Experian as part of the application process to determine your creditworthiness. The credit inquiry will appear as a soft credit inquiry on your Experian credit report and a hard credit inquiry on your Clarity report. Therefore it will not affect your FICO credit score. OppLoans and its Bank Partners report customer payment history to the three major credit bureaus. On-time payments may improve credit score.
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Current logo
8.7 Great
Current
8.7 Great
$50 to $1,000
Up to 3 days or within an hour for a fee
Among other factors, you must receive a monthly total of $500 or more in Eligible Payroll Deposits into your Current Account.
Get up to $750 before payday, once you qualify. Paycheck Advance is an earned wage access service and is not a loan or credit product. Subject to Paycheck Advance Terms and Conditions.
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What is the Finder Score?

The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.

Read the full breakdown

Eligibility criteria for bad credit installment loans

Eligibility requirements may vary a bit by lender, but here are the basics:

  • Be at least 18 and a US resident
  • Have an active bank account
  • Have a regular source of income
  • Live in a state where the lender operates

You may also need to meet minimum monthly income requirements, which vary by lender, and some also require that you get paid by direct deposit.

How to apply for bad credit loans

Follow these steps to apply for an installment loan for bad credit.

  • Evaluate your budget. Figure out how much you can afford to repay each month, and don’t borrow more than you need.
  • Explore your options. Look for lenders that offer the loan amount you need, and watch for interest rates and other fees.
  • Review lender requirements. Make sure you meet the minimum criteria to qualify for the loan. At this point, it is also good to see what documentation the lenders require.
  • Compare lenders. Once you’ve narrowed the field, compare a few lenders by researching interest rates, fees, loan terms and the lender’s reputation.
  • Gather your documents. To facilitate the loan process, it’s a good idea to get your paperwork together. Documents you may need include a government-issued ID, W-2s, pay stubs, tax returns and bank statements.

How to prequalify for an installment loan with bad credit

Once you’ve done your research and prepared to apply, it’s time to get prequalified.

  1. Fill out an online application, call or visit a physical location.
  2. Allow the lender to conduct a soft credit check.
  3. Wait to hear if you prequalify, which should be in minutes.
  4. Review your loan offer.
  5. Submit a formal application with a hard credit check.

How much do bad credit installment loans cost?

While installment loans generally have lower rates than payday loans, you might still have to pay rates up to 300% or more. However, this is not true of every lender, and the rate you get depends on how bad your credit really is. You may also have to pay an origination fee of up to 10%, although not all installment loan lenders charge one.

If your credit is over 600, you might qualify for a personal loan instead, where the highest rates are under 36%. In any case, you can significantly reduce your loan’s cost by paying extra when you can and repaying the loan early.

Pros and cons of bad credit installment loans

Consider the risks and rewards of installment loans before you apply.

Pros

  • Accepts poor credit
  • Typically fast funding
  • Can help build credit
  • Longer loan terms than payday loans

Cons

  • Higher rates than some loan options
  • Might require bi-weekly payments
  • May charge origination fees
  • Higher potential for predatory lenders

Alternatives to installment loans with bad credit

Installment loans are typically a more expensive lending solution than other options. Consider these alternatives instead:

  • Cash advance apps. For smaller, short-term loans, cash advance apps might be a good option, and providers typically don’t check your credit or charge interest or late fees.
  • Personal loans. Some personal loans also accept borrowers with poor credit, and rates are usually capped at 36%, making them a more affordable choice.
  • Payday alternative loans (PALS). Certain federal credit unions offer PALs to existing customers with loan amounts up to $1,000 and rates capped at 28%.
  • Personal lines of credit. Some banks and credit unions offer personal lines of credit at better rates than installment loans, but they may be more difficult to find, and you might need an account with the bank to qualify.
  • Credit cards. Rates for credit cards are generally high, but they’re less than most installment loans. Plus, they offer greater payment flexibility and other perks like travel points or cashback rewards.

Frequently asked questions

Megan B. Shepherd's headshot
To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.
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Written by

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Lacey Stark is a freelance personal finance writer for Finder, specializing in banking, loans, investing, estate planning, and more. She has 20 years of experience writing and editing for magazines, newspapers, and online publications. A word nerd from childhood, Lacey officially got her start reporting on live sporting events and moved on to cover topics such as construction, technology, and travel before finding her niche in personal finance. Originally from New England, she received her bachelor’s degree from the University of Denver and completed a postgraduate journalism program at Metropolitan State University also in Denver. She currently lives in Chicagoland with her dog Chunk and likes to read and play golf. See full bio

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6 Responses

    Danielle's avatar
    DanielleJune 26, 2019

    The only reason I want a loan is to pay off my credit cards and just pay off the loan. Do you think it’s a good idea?

      nikkiangco's avatar
      nikkiangcoJune 27, 2019

      Hey Danielle,

      Thanks for your question!

      It’s always a good idea to pay off your credit card debts as this will help you save in terms of the interest charges you are paying which is often what keeps people stuck in a never-ending debt repayment cycle.

      If you have multiple credit card debts, you can consolidate them by applying for a personal loan. If you have bad credit, there are debt consolidation loans for people with bad credit that you can consider applying for.

      As a friendly reminder, review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions to see whether it is right for you.

      Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.

      Best,
      Nikki

    Tiffany's avatar
    TiffanyMay 7, 2018

    I have a really low credit score and yes working with some one to help out my credit. I am in need of just $1000 so that I can get out of this runt. I was sick fail behind on some bills that needs to be paid ASAP. Can you help me find someone that will consider?

      Joshua's avatarFinder
      JoshuaMay 7, 2018Finder

      Hi Tiffany,

      Thanks for getting in touch with finder. I hope all is well for you.

      I’m sorry to hear about your situation. We do have a list of lenders who offer a $1000-loan. Please click that link and you should be redirected to a page where you will see a table that allows you to conveniently compare your options. Once you find the right one for you, click on the “Go to site” button to learn more or initiate your application.

      Just in case, you may want to read our guide on how to get out of debt. This should help you discover the best options to put your debt behind you.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Joshua

    Roseann's avatar
    RoseannApril 23, 2017

    Looking for a installment loan I have really bad credit installment have applied everywhere and turned down need 10,000 where can I turn to.

      Anndy's avatarFinder
      AnndyJune 29, 2017Finder

      Hi Roseann,

      Thanks for your question.

      The lenders above may consider you for a loan, but subject to eligibility criteria.

      You may want to try contacting these lenders to discuss your eligibility.

      Cheers,
      Anndy

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