For Bad Credit up to $5,000!
An online installment loan is a loan which is paid back in fixed monthly installments, that includes the principal and interest of the loan. Loan term vary from 2 to 24 months and rates are lower than those for payday loans.
Need to pay off an unexpected medical bill or cover a sudden automotive repair cost? Looking for a loan to make small home improvements? Trying to consolidate your debts? Online installment loans can be used for all of these purposes and more.
With easy installment loans online from PaydayAllDay, you make regular payments in fixed amounts for the duration of the loan term. You know exactly how much you will owe each month when you take out the loan.
Direct lenders can disburse funds via direct deposit to your bank account. Want to pay back your loan early? There are no fees on early repayments!
Online installment loans may be used for any purpose the consumer deems appropriate. Some examples include:
It is recommended to only use installment loans to cover one-time expenses or short-term financial needs. They should not be used to pay your rent every month.
Applying for an installment loan online
Submit an online application
Select the loan amount and fill out the secure application form.
Get an instant reply
Receive an instant decision from one or more lenders in our network.
Read and Accept the Offfer
Read terms of the loan agreement, rates, fees, penalties. If you don't like them, don't accept the offer.
Get the funds
Receive your funds through direct deposit within 1 business day.
Make payments on time
Pay back your loan in equal installments each month according to the payment schedule.
How much can I borrow?
Online installment loans start out from $200 to $5,000. The average borrowed amount is $2,400. They are larger than payday loans and come with longer terms and lower rates.
Installment loans are appropriate for covering larger costs. You may have up to 24 months to pay them back.
The exact amount you will be able to borrow depends on individual factors. These include the state where you reside, your credit score, your income, and more.
When you apply with PayDayAllDay, you may receive multiple offers from different direct lenders. You get to choose the installment loan which best fits your needs. The loan approval process is easy and fast.
Do you need perfect credit to qualify for an installment loan? Not when you go through PaydayAllDay. Our lenders understand that a consumer’s credit score is just one factor and that there are other indicators of financial stability, like solid income.
That is why they run an alternative “soft” check, also advertised as no credit check. Even if your credit is not perfect, you may be approved for an installment loan!
All installment loans should not be used as a long-term financial solution, and are subject to state regulations, approval by the lender, and eligibility. The APR for an installment loan is contingent on a variety of factors including location, lender, the amount borrowed, fees, and terms. An installment loan term ranges from two months to 24 months. Accounts which are not paid in full or on time may be sent to collections. This may have a negative effect on credit score and overall financial status. Loan extension leads to extra fees and charges. Consumers with delinquent accounts or insufficient funds may incur other fines and penalties as well. Customers with credit difficulties should seek consumer credit counseling.