Get cash when you need it with installment loans for bad credit!
If you’re in need of cash and can’t wait until your next payday a cash advance installment loan can put cash in your bank in just a few hours. Applying for installment loans for people with bad credit can get the money you need quick. Unlike online payday advance loans, an installment loan allows you to pay the money back over time.
Applying for a loan through a bank not only requires good credit but also requires time. If you’re in need of fast cash a bank loan may not be the best option. Online cash advance installment loans are generally completed the same business day with the money in your back the same say or the following business day.
Direct lenders for installment loans
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Typical Installment Loan Terms
Cash advance installment loans are normally offered in the amounts of $100 to $1,500 for first time borrowers, unlike payday loans that must be paid back the next payday (unless you request an extension). After you’ve paid off an installment loan, you can generally re-apply for a higher dollar amount.
Cash advances fee’s range from $15 to $30 per $100 borrowed, depending on the lender and state laws. Once your approved, the direct lenders will provide your repayment scheduled, generally with bi-weekly payments. If you’re able to pay your installment loan of early you may do so at any time.
Cash Advance Installment Loans VS Traditional Bank Loans
Installment loans for bad credit are designed for those who have credit issues, unlike bank loans whom require good credit. These loans are unsecured and typically don’t require a credit check. This means that someone with bad credit can be approved in a financial emergency. You can even get a loan if you have a bankruptcy on your record, since these loans do not require a credit check.
Short term installment loans
A short term installment loan is a type of unsecured installment loans that put the cash you need in your hands fast with a multiple payment repayment plan. Short term installment loans generally provide the consumer with $500-$1000 with bi-weekly or monthly payments (starting your next payday). A short term loan is generally paid in full within 4-6 months or sooner if you have the ability to pay quicker.
Long term installment loans
Like short term loans, a long term installment loan allows the borrower to repay the loan in multiple payments for 6 months- 1 year. Long term installment loans will incur more interest, so you want to get it paid for quickly to avoid any additional interest charged on the loan.
Applying for an online installment loan is a quick process and anyone with a job earning at least $1200+ per month with a bank account can apply. Once approved your cash will be directly deposited into your account.
With many online installment loan lenders offering quick cash, it’s easy to get into debt. Make sure you only borrow what you can afford to pay back!