Facts about installment loans by lending companies
There are two fundamental categories of consumer credit: closed-ended credit and open-ended credit. Installment loans come under closed-ended credit where the amount is fixed and the amount is used for one purpose only. Monthly payment in installment loans is equal every month until the payment is paid. When you apply for an installment loan the amount you borrow is fixed. The interest rate on an installment loan remains fixed for the life of the loan.
What is the requirement for applying for a loan with CashNetUSA?
- With CashNetUSA, you can apply for a quick installment loan provided you have a steady source of income and an ability to repay it.
- To apply for a CashNetUSA loan you need to have an active email address.
- You will also need to have a checking account which is active for at least 90 days.
- You need to have a driver’s license to be eligible for CashNetUSA.
- Your age should be 18 years or above and you must be a US citizen or a permanent resident.
How does Blue Trust Loans help its customers?
- The minimum loan amount provided by Blue Trust Loans is $100. The maximum amount for a loan is $2,000.
- The loan term for such an amount is 6 months and you get the money within the next business day.
- To be eligible for an installment loan with Blue Trust Loans, you need to be 18 years or above.
- You will also need to provide a verifiable source of direct income in your checking account.
- You must meet the minimum income requirement set by Blue Trust Loans.
- If you are a debtor in a bankruptcy case or filing for bankruptcy voluntarily, you are not eligible for the loan.
How does an installment loan from Jora work?
- Jora offers loans between $500 to $2,600 with loan terms between 4-30 months, depending on the state of residence.
- Jora doesn’t have a minimum income limit.
- If you have retirement, disability or unemployment checks you still qualify for the loan.
- With its quick application process, Jora helps you apply for a loan in a few minutes and you will know if it’s approved shortly after.
- Jora offers a set of tools that will help you understand your finances, debts, and steps you can take to get them in control.
- Even with a bad credit score, you can apply for a loan with Jora.
What are the offers provided by ACE Cash Express to its customers?
- Based on your needs and state of residence, ACE Cash Express helps you apply for various loans.
- With its online application, the process is quick and you will get your money by electronic transfer within 2 business days. You can also pick up cash from a branch if you don’t want to wait that long.
- Since the installment loan is unsecured, you don’t need to deposit any kind of collateral.
- You are also allowed to pay off your debt early without any extra pay. In certain states, you are also eligible for a complete or partial refund of applicable loan fee.
- ACE Cash Express relies on online verification, therefore there is no need for any hard copies of the documents.
- The interest rates and fees are based on your state of residence, your current financial situation and the type of loan you have applied for.
- You will be presented with the terms and conditions beforehand. If you don’t like the terms and conditions, you are under no obligation to sign it.
- Cash Store provides residents of Idaho, Utah, Illinois, Texas, Michigan, New Mexico, and Wisconsin many loan options.
- With a minimum amount of $100 to the maximum amount of $5,000, Cash Store offers its customer some relief on their finance.
- There are over 300 stores across 7 states, so you don’t need to worry about traveling too much regarding your loan.
- You can visit the nearest Cash Store to pick up the cash or check, once the loan is approved.
- Cash Store also offers a referral and loyalty program and the first-time borrower program. You can even earn $100 by just referring a friend for a loan.