Installment Loans - Affordable Monthly Payments
Get $500 to $50,000 with fixed monthly payments you can budget for. Terms up to 84 months. Much better than payday loans.
Fixed Payments
Know exactly what you owe each month
Lower Rates
Better rates than payday loans
Up to 84 Months
Flexible repayment terms
Build Credit
Improve score with on-time payments
Installment loans are personal loans repaid through fixed monthly payments over a set period (6 to 84 months). Unlike payday loans that require full repayment in 14-30 days, installment loans give you months or years to pay back the loan with affordable monthly payments that fit your budget.
The structured repayment schedule makes installment loans much more affordable than payday loans. Instead of paying $150 in fees for a $1,000 payday loan due in 2 weeks, an installment loan spreads that $1,000 over 12-36 months with total interest of $200-400 - saving you money and making payments manageable.
Installment Loans vs Payday Loans
Installment Loan
- ✓ Fixed monthly payments
- ✓ 12-84 month terms
- ✓ Interest rates 14.99-39.99%
- ✓ Borrow $500-$50,000
- ✓ Builds credit score
- ✓ Predictable budgeting
Payday Loan
- ✗ Full payment due in 14-30 days
- ✗ Short 2-4 week term
- ✗ APR of 300-500%
- ✗ Borrow $500-$5,000 max
- ✗ Debt cycle risk
- ✗ Very expensive if extended
Best Uses for Installment Loans
- Larger Purchases: Furniture, appliances, electronics spread over time
- Home Repairs: Roof, HVAC, plumbing - essential repairs with manageable payments
- Consolidate Payday Debt: Escape payday loan cycle with longer-term solution
- Build Credit: Establish or rebuild credit with affordable payments you can maintain
What's the difference between installment loans and payday loans?
Installment loans have longer repayment terms (6-84 months vs 14-30 days), lower costs (APRs of 14.99-39.99% vs 300-500%), fixed monthly payments (vs lump sum), and help build credit. Installment loans are significantly more affordable and manageable than payday loans.
Can I get an installment loan with bad credit?
Yes! Installment loans are available for all credit types. Lenders look at your income and ability to make monthly payments, not just your credit score. With bad credit, you may pay higher interest (25.99-39.99% vs 14.99-19.99% for good credit), but it's still much better than payday loan rates.
How do installment loans help build credit?
Each on-time monthly payment is reported to credit bureaus, gradually improving your credit score. The mix of credit types (installment vs revolving) also helps. After 6-12 months of on-time payments, many borrowers see 50-100 point credit score increases.
$5,000 over 24 months
$245/month
$10,000 over 36 months
$345/month
$25,000 over 60 months
$575/month
*At 19.99% APR - actual rate depends on credit
Minimum:
$500
Maximum:
$50,000
Interest Rates:
From 14.99% APR
Terms:
6 to 84 months
Approval:
15 minutes to 24 hours
Apply for Installment Loan
Get approved fast with affordable fixed monthly payments.