Overcoming financial difficulties, such as debt consolidation, medical bills, vehicle repairs, or other unexpected expenses, become a big challenge if you fall short of funds. However, you may rely on installment loans because they are a tried-and-tested method to receive fast cash online and improve your financial health.
If you want to learn more about installment loans, you have landed at the right place. Our latest findings will introduce you to the best installment loan providers in America and help you understand their offerings in a better way. So, continue reading and exploring brief reviews of top lenders of online installment loans in the US.
Best Installment Loans – Quick Overview
- Heart Paydays: Best Overall for Installment Loans For Bad Credit
- Green Dollar Loans: Best for Small Installment Loans
- Big Buck Loans: Guaranteed Installment Loans For Bad Credit
- Low Credit Finance: Online Installment Loans Instant Approval
- Viva Payday Loans: Guaranteed Installment Loans For Bad Credit Direct Lenders Only
Best Installment Loans For Bad Credit Online 2022
#1. Heart Paydays: Best Overall for Installment Loans for Bad Credit
Heart Paydays provides one of the best installment loans for bad credit services in the US. It connects borrowers seeking installment loans for bad credit with potential lenders. You can visit their website whenever you require $100, $5,000, or any amount in between, and they'll help you quickly get the approved loan amount right in your bank account.
They charge an interest rate ranging from 5.99% to 35.99%. This rate is better than most competitors and varies according to the borrowers' creditworthiness. Getting installment loans for bad credit through Heart Paydays is a hassle-free process and gets completed in just 3-steps. All you need to do is visit their website, request any sum between $100 - $5,000, and provide your basic information. If a lender approves your loan, you could receive the funds in your account the same day. And the repayment terms are always borrower-friendly. The best thing is that all services provided by Heart Paydays are free to borrowers and offered without any obligation.
Eligibility Requirements for Installment Loans for Bad Credit
- US citizen of at least 18 years
- Monthly income of at least $1,000
- Valid bank account
Pros of Installment Loans for Bad Credit
- A vast network of trustworthy lenders
- Online, paperless process for all borrowers
- 24/7 email support
Cons of Installment Loans for Bad Credit
- Not a direct lender
#2. Green Dollar Loans: Best for Small Installment Loans
Borrowers frequently visit the Green Dollar Loans portal when looking for small installment loans online. It is a platform that connects loan-seeking individuals with lenders offering fast and easy lending solutions. They understand the importance of money during financial emergencies and thus provide small installment loans without focusing much on borrowers' credit scores.
Partner lenders of Green Dollar Loans provide any amount between $100 – $5,000 to borrowers and allow them to pay it back in easy installments over a period of 2 – 24 months. People prefer Green Dollar Loans because their loan-related processes are quite transparent and hassle-free. For example, it is clearly mentioned on their website that APRs on loans vary from 5.99% – 35.99%. Moreover, they take hardly 2 minutes to decide whether you are qualified or not.
Eligibility Requirements for Small Installment Loans
- US national of at least 18 years
- Regular monthly income of over $1,000
- Permanent address proof
- An active bank account that supports direct deposit
- Valid ID proof
Pros of Small Installment Loans
- All credit scores are considered
- Access to approved funds in less than 15 minutes
- User-friendly website with informative content
Cons of Small Installment Loans
- Despite the high approval rate, no guarantee that every application will be approved
#3. Big Buck Loans: Guaranteed Installment Loans for Bad Credit
One of the best spots for those looking for guaranteed installment loans for bad credit is Big Buck Loans. Its website serves as an online platform for people with bad credit to discover lenders willing to assist them financially. You'll receive your loan offer or financial alternative for any amount between $100 and $5,000 within minutes of submitting your request for guaranteed installment loans for bad credit.
Though it does not perform credit checks, its partner lenders may do so before approving guaranteed installment loans for bad credit with interest rates ranging from 5.99% to 35.99%. One of the most attractive features of Big Buck Loans is that you don't need to provide formal proof of income. But you must show them you earn at least $1,000 monthly.
Eligibility Requirements for Guaranteed Installment Loans for Bad Credit
- Must be over 18 years
- Holds a legal US citizenship
- Must have an active bank account in the US
- Must earn at least $1,000 every month
Pros of Guaranteed Installment Loans for Bad Credit
- The loan application process is fast and effortless
- Flexible repayment terms of 3 – 24 months
- Approved money is usually credited to the borrower's account within 15 – 60 minutes
Cons of Guaranteed Installment Loans for Bad Credit
- The interest rate of 35.99% may disappoint some borrowers
#4. Low Credit Finance: Online Installment Loans Instant Approval
Low Credit Finance is another portal that links borrowers with lenders offering online installment loans instant approval. Most people prefer them over others because of their fast loan request, approval, and funding processes. Once you submit a loan request through them, their partner lenders will respond promptly. And borrowers often get the approved funds the same day.
You can borrow as low as $100 and as high as $5,000 through Low Credit Finance. However, the interesting thing is the flexible repayment terms. They provide you the option to repay the online installment loan instant approval in easy weekly, bi-weekly, and monthly installments spread out over a period of 3- 24 months. Additionally, they don't restrict how you may use the borrowed online installment loan instant approval that you get with them.
Eligibility Requirements for Online Installment Loans Instant Approval
- Provable earnings of more than $1,000 per month
- US citizen of over 18 years
- Valid ID and resident proof
- US bank account with direct deposit enabled
Pros of Online Installment Loans Instant Approval
- Fast, simple, and online loan-related processes
- Considers all credit scores and any credit history
- Borrowers can repay the loan in weekly, bi-weekly, or monthly installments
Cons of Online Installment Loans Instant Approval
- Monthly income below $1k leads to disqualification
#5. Viva Payday Loans: Guaranteed Installment Loans For Bad Credit Direct Lenders Only
Viva Payday Loans is an online platform where borrowers can easily submit their information for guaranteed installment loans for bad credit direct lenders only. It specializes in assisting every individual with any credit score to get fast cash in times of financial emergencies. Guaranteed installment loans for bad credit direct lenders only via Viva Payday Loans are available at an APR of a minimum of 5.99% and a maximum of 35.99%.
Getting a guaranteed installment loans for bad credit direct lenders only through them is simple. Your request will be forwarded to various reputable lenders as soon as you fill out the simple form on their website. After that, you'll receive an offer or alternative solution in only a few minutes. After receiving your consent and approving your application, the lender quickly deposits the permitted funds into your bank account.
Eligibility Requirements for Guaranteed Installment Loans For Bad Credit Direct Lenders Only
- US citizen of over 18 years
- Monthly income of more than $1k
- Valid residential proof of the United States
- Valid ID proof
- Active checking or savings account in a US bank
Pros of Guaranteed Installment Loans For Bad Credit Direct Lenders Only
- Online, paperless form is short and requires basic information
- Loan-related processes are quick for good, fair, and bad credit borrowers
- No expenses or fees up front for borrowers
Cons of Guaranteed Installment Loans For Bad Credit Direct Lenders Only
- Website misses the option to contact customer support
What Are Personal Installment Loans & How Do They Work?
Personal installment loans give borrowers a lump amount and allow them to repay it over a defined period in installments. All US citizens above 18 years, with good or bad credit scores, can request personal installment loans online. Individuals with poor credit often seek installment loans for bad credit.
Your lender will consider your credit rating and debt-to-income ratio before determining how much money to offer you, how long you'll have to pay it back, and the interest rate. Once approved, you'll usually get funds the same day. The repayment schedule of most personal installment loans is fixed, so you'll make the same payment on each installment and pay off your loan by a specified date.
How to Apply for Bad Credit Installment Loans in Quick Steps
You only need to follow these four steps while applying for bad credit installment loans through Heart Paydays:
Step 1: Choose a Suitable Bad Credit Installment Loans Option
100% secure bad credit installment loans ranging from $100 – $5,000 are available with borrower-friendly repayment terms. You can choose the option suitable for your financial needs.
Step 2: Complete the Bad Credit Installment Loan Online Application Form
After landing on Heart Payday's home page, the application form for bad credit installment loans is one of the first things you can notice. Just follow the prompts and provide your information to get funds quickly.
Step 3: Get Feedback on Your Bad Credit Installment Loan Request
After submitting your request for bad credit installment loans, you'll have to wait for a decision. You won't have to wait long though, because the decision is often made in less than two minutes.
Step 4: Get the Approved Bad Credit Installment Loan Amount Right into Your Bank Account
The final step is reviewing the terms and conditions set out by the lender, signing the contract (if deemed favorable), and returning it to the lender. If approved, the approved loan amount will be credited to your account the same day.
No Credit Check Installment Loans Features & Factors to Consider
No Credit Check Installment Loans Help Build Credit Scores
As payment history contributes most to credit scores, no credit check installment loans give borrowers an opportunity to enhance their credit scores. Remember that timely repayment of your loan improves your credit score, but skipping installments or defaulting might hit you hard.
No Credit Check Installment Loans and Soft Credit Checks
Top providers of no credit check installment loans set themselves apart from the competition with their exclusive use of soft credit checks. Whether you agree to borrow money or not, these inquiries won't affect your credit score.
Compare APRs on No Credit Check Installment Loans
Like any other loan, borrowers must pay interest on no credit check installment loans. Some top lenders may offer you loans with APR (Annual Percentage Rate) ranging from 5.99% to 35.99%. So, compare the APRs on different no credit check installment loans and choose the one aligning with your needs.
Calculate the Overall Cost of No Credit Check Installment Loans
Consider the overall cost of no credit check installment loans while finalizing the options that meet your needs. Make sure to check the interest rate, handling charges, loan fees, and any penalties (if applicable).
How Did We Choose the Best Guaranteed Installment Loans For Bad Credit No Credit Check Providers?
While researching the best guaranteed installment loans for bad credit no credit check providers, we mainly focused on lenders providing online installment loans, personal installment loans, no credit check installment loans, and bad credit installment loans. Our shortlisted choices of installment loans were based on the following:
- Lenders ready to provide up to $5,000 of guaranteed installment loans for bad credit no credit check as they help overcome the most pressing financial issues.
- Availability of guaranteed installment loans for bad credit no credit check for individuals with any credit score.
- Guaranteed installment loans for bad credit no credit check, even if borrowers don't have a regular job.
- Eligibility requirements that are realistic for the average American.
- Providers of guaranteed installment loans for bad credit no credit check offering borrower-friendly repayment terms of 2 – 24 months.
- Online application process, evacuating the use of paperwork, calls, and faxes.
- Transparent loan procedures followed by certified, credible lenders from the US.
- Competitive and negotiable interest rates ranging from 5.99% – 35.99%.
Conclusion
Today, finding a reputable lender to give you money is much easier than it was a few years ago. With the easy availability of online installment loans, anyone can quickly resolve their financial issues. What's greatest is that credit score is no longer the primary consideration for loan approval by lenders.
Some of the top lending sources in the United States are listed above. You should consider them, especially Heart Paydays, if you want to get an installment loan but lack time to research. With a high approval rate, Heart Paydays helps you get almost guaranteed installment loans from reliable lenders. It matches you with a lender willing to provide you with an installment loan meeting your criteria.
FAQ’s
What Are Installment Loans Bad Credit?
Installment loans bad credit are loans that let individuals with poor credit borrow a lumpsum amount and pay it back in installments over a predetermined period, usually monthly. When people need money urgently but cannot get it from regular lenders because of their bad credit scores, they turn to the lenders of these loans.
Can I Get Installment Loans No Credit Check?
You should search for lenders through a loan-finder website if you want installment loans no credit check. But remember that lenders offering installment loans no credit check use this term to attract borrowers. They do conduct a credit check to find out whether you can pay back their money or not. Most online lenders run a soft credit check which doesn't affect your credit score and makes you qualified for an installment loan, even if your credit score is bad or fair. So, it would be best to approach them.
What Can Instant Funding Installment Loans Be Used For?
Being able to use instant funding installment loans for multiple purposes is one of the best features about them. You can take these loans to make different types of payments, such as:
- Home Mortgage
- Home Renovation
- Purchasing a vehicle
- Debt Consolidation
- Dealing with emergency expenses
- Supporting their wedding bills
- Paying for their education expenditures
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.
