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Installment Loans

Up to $5,000 Quick Cash with Convenient Payments Over Time

Repay over time

Unlike a typical payday loan, an installment loan allows you to pay back your loan over time.

Get more cash

Installment loans typically provide higher loan amounts than payday loans.

Pay off early and save

Installment loans charge daily interest, so if you pay off early you will save on interest paid.

What is an installment loan?

An installment loan is a loan where you borrow a specific amount of money at one time, and repay over time with a set number of scheduled payments (typically 2 payments or more). As you make payments, your loan balance decreases.

Examples of Installment Loans

  • Student Loans
  • Car Loans
  • Mortgages
  • Personal Loans

Pros & Cons


  • Fixed interest rate
  • Fixed payments
  • No prepayment penalty


  • Could put a hard hit on your credit
  • Temptation to borrow more money than you need
  • May need to verify income

Comparing to Payday Loans

Installment Loans

  • Principal amount accrues daily interest
  • Pay with scheduled payments over a set amount of time
  • Loan amounts up to $5,000

Payday Loans

  • Flat fee based on the amount borrowed
  • Pay in full upon receiving your next pay check
  • Typical loan amount from $50 – $500

Key takeaways

  • Personal installment loans may come with high interest – interest rates are an important factor to consider to make sure you can manage payments (before applying, think about if you have access to a cheaper form of credit)
  • Some installment loans have payments due monthly, some are due base on pay cycle – determing which pay schedule is going to work best for you
  • Scheduled payments go toward paying a portion of the principal balance and interest accrued – to save on interest pay more than the scheduled amount.

Installment loans from Speedy Cash

Complete your application today to get a quick lending decision.

Apply now

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Installment Loan Answers

Do installment loans hurt your credit?

They can. A lot of lenders will pull your credit when you apply; this can have a negative impact on your credit. In addition, missed payments may also result in a derogatory mark on your credit profile.

How do I qualify for an installment loan?

Many factors may be taken into consideration when you apply, which may include:

  • Your debt to income ratio (= monthly debt + monthly bills / gross monthly income);
  • Your credit score;
  • Your credit history;
  • Proof of income.

Each lender will have a different approach to review a combination of this information to determine if you qualify.

What do I need to get an installment loan?

If you’re ready to apply, then you will need the following information to complete an application:

  • Valid ID
  • Source of income
  • Checking account
  • Phone number
Is Speedy Cash a direct lender?

Yes, in all states with the exception of Texas, where we are a Credit Access Business. This means that we will work with a third party lender to facilitate loans issued in Texas.

How quick could I get an online installment loan from Speedy Cash?

What good is our name if we don't live up to it? We always strive to get your cash to you speedy fast. If you're approved online, you could get your cash instantly deposited to your debit card. That's right – instantly!

Did you receive a reservation number in the mail? Click here to get started.

Product types and maximum loan amounts vary by market. Subject to state regulations, eligibility, credit check, underwriting and approval. Rates, terms and conditions apply. Title loans subject to minimum auto value requirements. See associate for details. Lending decisions and funding times subject to system limitations. Some applications may require additional verification, which can delay the lending decision.

Short term loans should be used for short-term financial needs and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.

The credit decision on your application may be based in whole or in part on information obtained from a national database including, but not limited to, TransUnion, Equifax, LexisNexis or FactorTrust, Inc.

Instant funding to a debit card is only available for online loans. Instant funding is not applicable for all debit cards and is not available in New Mexico, Ohio or South Carolina. Subject to system limitations. Some restrictions may apply.

Cash advances only available up to approved credit limit; some restrictions may apply.

NOTICE: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with this law concerning this creditor is the Consumer Financial Protection Bureau, 1700 G Street NW, Washington DC 20006 and the Federal Trade Commission, Equal Credit Opportunity, Washington DC 20580.

Alabama: Minimum age to apply in Alabama is 19.

California: Speedy Cash is licensed by the California Department of Business Oversight pursuant to the California Deferred Deposit Transaction Law. California loans other than deferred deposit loans are issued pursuant to the California Financing Law.

Nevada: The use of check-cashing services, deferred deposit loan services, high-interest loan services or title loan services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

New Mexico: Speedy Cash is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website

Tennessee: The State of Tennessee requires a minimum principal reduction. In order to comply with the minimum state-required principal reduction, Speedy Cash requires that minimum payments include a principal reduction of 2% or $2.50 for Customers who get paid bi-weekly/twice-a-month, or 4% or $5 for Customers who get paid monthly, whichever is greater.

Texas: Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party. Speedy Cash engages in the money transmission and/or currency exchange business as an authorized delegate of MoneyGram Payment Systems, Inc. under Chapter 151 of the Texas Finance Code. If you have a complaint, first contact MoneyGram Payment Systems, Inc. at 1-800-MONEYGRAM. If you still have an unresolved complaint regarding the company’s money transmission or currency exchange activity, please direct your complaint to the Texas Department of Banking: 2601 North Lamar Boulevard, Austin, TX 78705-4294, 1-877-276-5554 (toll free),

Opt+: This card is issued by Axiom Bank or Metropolitan Commercial Bank, Member FDIC, pursuant to a license from Visa. Visa is a registered trademark of Visa USA Inc. All trademarks and service marks are property of their respective owners. ATM: No fee withdrawals at any Speedy Cash or Rapid Cash location. Transaction fees will apply for all other ATMs. No charge loads/unloads at Speedy Cash and Rapid Cash locations only.

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