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Unfortunately, the average budget doesn't allow for rainy day savings nowadays, and that's why installment loans have become so sought after. With installment loans, you can afford to pay for things you may not otherwise afford, without crippling your budget. Installment loans allow you to get the things you need and pay for them in small monthly installments.
There's no denying that installment loans have positively impacted many Americans' lives in recent years. And with so many people actively searching the market for the best installment loans available, we’ve put together our editor's pick of the best installment loans providers in the US.
Installment Loans Online – Top 5 Pick:
- Low Credit Finance: Best Overall for Installment Loans Online
- Viva Payday Loans: Best for Installment Loans for Bad Credit Borrowers
- Big Buck Loans: Best for Online Installment Loans for Unemployed Individuals
- Heart Paydays: Best for Guaranteed Installment Loans for Bad Credit Borrowers with Low Income
- Green Dollar Loans: Best for Online Installment Loans Instant Approval
Best Installment Loans For Bad Credit and No Credit Check of 2022
Low Credit Finance: Best Overall for Installment Loans Online
If you don't like standing in queues, making lengthy phone calls, or spending your days sending faxes to get a cash boost, you're in luck! At Low Credit Finance, you can easily get installment loans online without having to leave your home/office or even pick up the telephone. The application process is handled online via your laptop, computer, or mobile device.
Accessing loans between $100 and $5000 is as simple as completing an online application form. This takes just a few minutes, and feedback on installment loans online is provided within two minutes.
You'll get to choose the most suitable repayment period for you between 3 and 24 months, depending on the installment loans online size. Interest is charged per lender and can range from 5.99% to 35.99%.
Eligibility Requirements to Apply for Installment Loans Online
- To apply, you must be at least 18 years old
- You will need to present a valid ID
- Your proof of income must show a minimum monthly earning of $1000
Pros of Installment Loans Online
- Very easy application process
- Loans of up to $5000 available
- Lenders are competitive with interest rates
Cons of Installment Loans Online
- Some lenders charge up to 35.99% interest
Viva Payday Loans: Best for Installment Loans for Bad Credit Borrowers
If you thought installment loans for bad credit borrowers were impossible, think again! You will find plenty of installment loans for bad credit via the Viva Payday Loans loan-finder platform. Bad credit borrowers can access loans between $100 and $5000 and repay them in fixed installments over 3 to 24 months, depending on the loan amount.
You’ll have to pay interest on the loan amount, which is between 5.99% and 35.99% of the total loan cost. Some lenders are competitive with the interest offered on installment loans for bad credit but keep in mind that the lender assumes the most risk, resulting in high interest rate.
Interest rates aside, Viva Payday Loans is in tune with the needs of borrowers and is known for connecting borrowers with lenders most likely to assist them with their financial needs, whether they’re searching for installment loans for bad credit or other loan products.
Eligibility Requirements to Apply for Installment Loans for Bad Credit Borrowers
- Borrowers must be 18+ to apply
- Minimum income requirement is $1000 per month
- Only USA citizens and legal residents may apply
Pros of Installment Loans for Bad Credit Borrowers
- Bad credit borrowers welcome
- Funds disbursed quickly
- Fast turnaround
Cons of Installment Loans for Bad Credit Borrowers
- High fees.
Big Buck Loans: Best for Online Installment Loans for Unemployed Individuals
When it comes to acquiring online installment loans for unemployed individuals, Big Buck Loans stands out from the rest! Of course, unemployed individuals must still prove that they earn enough to cover the cost of online installment loans they apply for. This requires an income of $1000 per month.
Unemployed online installment loans via Big Buck Loans range from $100 to $5000 and borrowers can expect to get 3 to 24 months to pay the loan. As far as interest on Big Buck Loans’ online installment loans go, lenders typically offer a range of options from 5.99% to 35.99%.
Applying for online installment loans with this loan finder is as simple as completing an online application form, which takes just a few minutes. Within two minutes you will know if a lender can possibly help. If you’re unemployed, a freelancer or earn your income through non-conventional means, Big Buck Loans can help you connect with a lender most likely to assist you.
Eligibility Requirements to Apply for Online Installment Loans for Unemployed Individuals
- 18+ years old
- $1000 p/m income
- Valid ID
Pros of Installment Loans for Unemployed Individuals
- No physical paperwork, calls, or faxes
- Fast approvals
- Flexible loan options and repayment schedules
Cons of Installment Loans for Unemployed Individuals
- Salaries lower than $1k p/m don’t qualify
Heart Paydays: Best for Guaranteed Installment Loans for Bad Credit Borrowers with Low Income
If you’re looking for guaranteed installment loans for bad credit borrowers, you’re in luck! Heart Paydays has a reputation for connecting bad credit borrowers with lenders likely to assist them if they meet the eligibility criteria.
Borrowers can access guaranteed installment loans for bad credit ranging from $100 to $5000 with up to 2 years to pay, depending on the amount. Interest ranges from 5.99% to 35.99%, depending on the lender.
Applying for guaranteed installment loans for bad credit on the Heart Paydays website is simple. You must access the online application form online and complete it with your particulars.
Eligibility Requirements to Apply for Guaranteed Installment Loans for Bad Credit
- Proof of address, pay slips, and bank statements
- ID showing you’re 18 or older
- Active US bank account
Pros of Guaranteed Installment Loans for Bad Credit
- Quick access to cash
- Bad credit borrowers can get funding
- Interest starts from 5.99%
Cons of Guaranteed Installment Loans for Bad Credit
- Interest up to 35.99%
Green Dollar Loans: Best for Online Installment Loans Instant Approval
Green Dollar Loans caught our eye for its reputation of providing borrowers with access to online installment loans instant approval. Green Dollar Loans' online installment loans instant approval range in size from $100 to $5000 with 3 to 24 months to pay.
When applying for online installment loans instant approval, you can expect the interest to range from 5.99% to 35.99%, depending on how competitive the lender is and, of course, your credit score.
Affordability is a top priority for the lenders on the Green Dollar Loans panel, so you can expect to provide a list of your monthly expenses so that an assessment can be made.
Eligibility Requirements to Apply for Online Installment Loans Instant Approval
- Income of $250 per week or $1000 per month
- 18 or older to apply
- Provide bank statements, pay slips, and proof of address
Pros of Online Installment Loans Instant Approval
- Flexible repayment schedules
- Loans of up to $5000 available
- Quick approval process
Cons of Online Installment Loans Instant Approval
- Fees can be high
What Are Guaranteed Installment Loans for Bad Credit Direct Lenders Only & How Do They Work?
Guaranteed installment loans for bad credit direct lenders are loans provided to individuals who meet the eligibility criteria set in place by the lender. The loans are provided by direct lenders, so there’s no external interference in the loan process or contract.
When applying for guaranteed installment loans for bad credit direct lenders, you can expect interest to be added to the loan principal. The entire total is then divided by the number of months in the loan terms.
How to Apply for Guaranteed Installment Loans for Bad Credit Direct Lenders Only in Quick Steps
With Low Credit Finance ranking as our top provider of installment loans, we’ve summarized the quick and easy steps to apply on the platform:
Step 1: Choose How Much You Wish to Acquire Through Personal Installment Loans
The first step is to indicate the personal installment loans amount you wish to apply for between $100 to $5000 and with 3 to 24 months to pay.
Step 2: Complete the Bad Credit Installment Loans Application Form Online
Next, access the bad credit installment loans application form on the right-hand side of the screen. Follow the simple prompts to input the required information.
Step 3: Get a Decision on No Credit Check Installment Loans Within Minutes
Submit the application form and wait just two minutes to get a decision on your no credit check installment loans application. Even if your application isn’t approved, you’ll be advised.
Step 4: Receive the Payout on Guaranteed Installment Loans for Bad Credit No Credit Check
Approved guaranteed installment loans for bad credit no credit check via the Low Credit Finance platform are paid out pretty quickly. Read through the loan agreement, sign it, and send it back to the lender.
Installment Loans Bad Credit Features & Factors to Consider
Installment loans bad credit available through most loan-finder sites share the following features and factors that affect the loan.
Interest Rates on Installment Loans Bad Credit
When applying for a loan, remember that the loan will cost you more than just the loan amount. Interest is added to the loan amount, which can increase the loan’s cost exponentially.
Installment Loans No Credit Check Provider Reputation
Using a loan-finder site to acquire installment loans no credit check comes with several perks, with peace of mind being the biggest. Lenders on the Low Credit Finance panel (and the other loan finders we reviewed) are reputable.
Repayment Schedules on Installment Loans No Credit Check
Always look into the repayment options available when applying for installment loans no credit check. The last thing you want to do is get into a loan contract that’s will stifle your budget.
Disbursement of Funds for Instant Funding Installment Loans
When using a loan-finder site, the repayment options typically vary from 3 months to 2 years.
How Did We Choose the Best Installment Loans & Tribal Installment Loans Direct Lenders No Credit Check Providers?
When looking for the best providers of tribal installment loans direct lenders no credit check and other types of installment loans, we looked for the following in loan-finders:
- Transparent processes
- Free loan-finding services
- Access to flexible loan amounts and terms
- Easy-to-follow application processes
- 100% online applications
- Discreet lending practices
- Reasonable interest rates for the industry
After doing our homework, we can confidently say that using a loan-finder service is the best way forward to connect with lenders most likely to support your loan request. Low Credit Finance is our number-one pick for the best installment loans packages online.
Are There No-Credit-Check Installment Loans?
There are installment loans available to borrowers with bad credit scores where the outcome of the credit check plays no vital role in the final decision-making process of the lender.
Can You Have Multiple Installment Loans?
Yes, it’s fairly normal to have many installment loans in place at the same time as mobile phone contracts, and car loans are considered installment loans (as an example). That said, if you apply for an installment loan and are only offered a small amount, you should not apply for another loan with a different company. This will over-indebt you.
What is the Easiest Installment Loan to Get Approved For?
The easiest installment loans to get approved for are payday loans, personal installment loans, car title loans, and pawnshop loans.
Disclaimer: This is a paid advertisement. The loan websites reviewed are loan-matching services, not direct lenders, therefore, do not have direct involvement in the acceptance of your loan request. Requesting a loan with the websites does not guarantee any acceptance of a loan. This article does not provide financial advice, please seek help from a financial advisor if you need financial assistance. Loans available to U.S residents only. The owner of the loan website(s) may be paid commission by a third party if you make a request for a loan.