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GET MORE CASH
Installment Loans usually provide higher loan amounts than Payday Loans.
REPAY OVER TIME
Unlike a typical Payday Loan, an Installment Loan allows you to pay back your loan over time.
PAYOFF EARLY AND SAVE
Installment Loans charge daily interest, so if you pay off early you can save on interest paid.
What is an Installment Loan?
An Installment Loan lets you borrow a larger amount of money at one time (compared to a Payday Loan) and repay over time with a set number of scheduled payments. As you make payments, your loan balance decreases.
Pros
- Fixed interest rate
- Higher loan amount than Payday Loans
- Fixed payments
- No prepayment penalty
Cons
- High interest rates
- Temptation to borrow more than you need
- May need to verify income
Before you borrow
- Have you read our Rates & Terms?
- Can you manage payments?
- Could you get a cheaper form of credit?
How it works:
RECEIVE A QUICK LENDING DECISION
SIGN DOCUMENTS
(if approved)
GET MONEY INSTANTLY†
On your debit card, or direct deposited into your checking account (typically within one business day).
REPAY OVER TIME
Choose the automatic payment option to schedule your payments ahead of time.
What do I need to get an Installment Loan?
- Personal info. Phone number, Social Security Number, and a valid ID.
- Steady income. Net and gross pay, and income information.
- Banking info. Checking account and routing numbers.
How soon could I get an online Installment Loan?
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!
Installment Loans vs. Payday Loans
Installment Loans
- Principal amount accrues daily interest
- Pay back with scheduled payments over a set amount of time
- Loan amounts up to $3,000
Payday Loans
- Flat fee based on the amount borrowed
- Pay in full upon receiving your next pay check
- Typical loan amount from $50 - $500
Installment Loans Help Center
You cannot have multiple Installment Loans open simultaneously with Speedy Cash. However, you may be eligible to qualify for another loan, such as a Title Loan, or Payday Loan in addition to having an open Installment Loan.
Many factors can 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 (to help determine a manageable loan amount)
You’re welcome to review some common questions on our dedicated FAQs page. We also provide some financial resources on our blog. And of course, we’re always happy to hear from you in person, online or over the phone at 1-888-333-1360.
Need a little more information before applying?
When taking out a loan from any lender, it’s important to ask as many questions as you need to feel comfortable before moving forward. The robust Speedy Cash Help Center covers the most frequently asked questions and more!