Installment Loans

What is an Installment Loan?

Basically an installment loan is a type of loan that borrowers pay off in equal monthly installments until the loan has been repaid in full. This means the borrower pays the same amount of money each month until it’s paid off.

There are many types of Installment loans including auto loans, home loans, and boat loans. You can also take out an installment loan to cover emergencies, like car repairs, replacing appliances, or bill consolidation.

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How do I apply for an installment loan?

How do installment loans work?

Installment loans works like this. Once you apply and get approved you will get the cash in one lump some. Then you will make equal monthly payments until the debt is paid off.

Where can I get an installment loan?

Installment loans are offered by banks and credit unions along with online lenders. When dealing with banks and credit unions they usually want near perfect credit and some type of collateral like a home or car.

The easier way to get an installment loan is use an online lender. There are no hard credit checks so you do not need a credit score and all their installment loans are unsecured so you don’t need any collateral.

No Credit Check Installment Loans

Having less than perfect credit can make it hard to get approved for an installment loan. Most bad credit borrowers search for installment loans with no credit check and come up empty handed.

The good news our lenders do not do hard credit check pulls. This means no credit score required when you apply.

Installment loans vs. payday loans

 With an installment loan you usually repay it back in equal monthly payments. A payday loan you usually pay back on your next payday.

Minimum Requirements to Apply for Installment Loans

• Must be at least 18 years old or older
• United States citizen or legal resident
• Steady monthly income or benefits
• Valid Email address
• Working telephone number
• Bank account that accepts direct deposits