A little additional cash makes a big difference in dealing with unforeseen expenses like medical bills, car repairs, etc. Getting installment loans is one of the best ways to overcome almost all kinds of financial worries. You receive a lump sum amount from these installment loans for bad credit and you can repay it on a period that matches your financial state.
We have researched and reviewed some of the best ways of getting installment loans online no credit check in America. Continue scrolling down to find out more about the top lenders of installment loans in the United States.
Guaranteed Installment Loans – Top 5 Picks
- Low Credit Finance – Best For Installment Loans Online
- Heart Paydays – Best Installment Loans For Bad Credit
- Viva Payday Loans – Best For Online Installment Loans Quick Payouts
- Green Dollar Loans – Best Guaranteed Installment Loans For Bad Credit
- Big Buck Loans – Best For Online Installment Loans Instant Approval
Best Guaranteed Installment Loans For Bad Credit No Credit Check of December 2022 – Direct Lenders
#1. Low Credit Finance – Best For Installment Loans Online
Highlights of Installment Loans Online
- Installment loans online up to $5,000 are available
- Repayment terms meet the borrowers’ payback plans
- All credit scores and histories are welcome
- Only certified, trustworthy lenders in the network
- Instant decisions on loan requests and quick disbursal of approved funds
Low Credit Finance is an online platform famous for linking individuals seeking installment loans with lenders. Here, you can get installment loans from $100 to $5,000 for a period aligning with your financial life. They are preferred over competitors because of the flexible repayment options.
The presence of certified lenders in the network of Low Credit Finance is almost a surety of fast loan processing and approval. They charge competitive interest rates ranging from 5.99% – 35.99%. Installment loan providers usually ask customers to complete a ton of paperwork, but lenders on Low Credit Finance panel don’t have any such criteria. All of their processes are online and require minimum effort from borrowers.
Eligibility Requirements for Installment Loans Online
- US resident of 18 years and above
- Functional bank account with direct deposit
- Regular monthly income of $1,000 or at least $250 each week
- Email and phone number should be in the borrower’s name
#2. Heart Paydays – Best Guaranteed Installment Loans For Bad Credit
Highlights of Installment Loans For Bad Credit
- Bad credit installment loans range from $100 – $5,000
- Easy repayment terms from 3 – 24 months are available
- All loan-related processes are online and paperless
- Lenders make fast decisions and release funds within a day or two
- Minimum and maximum APRs are 5.99% and 35.99%
Heart Paydays is another reliable loan broking portal specializing in installment loans for bad credit. Lenders often reject the loan requests of people with low credit scores but, this is not the case with lenders at Heart Paydays. They understand the need of borrowers and lend them $100 – $5,000 without considering their credit scores.
In addition to competitive interest rates, the payback period of 3- 24 months also favors most borrowers. If you want an installment loan through Heart Paydays, the only requirement is to fill out the simple online form available on their website. Then, instant decisions are made on your loan request, and you’ll be redirected to suitable lenders within a minute or two. Note that all loan-related processes are often completed on the same day.
Eligibility Requirements for Installment Loans For Bad Credit
- Age should be over 18 years
- Earnings of over $1,000 per month
- Savings or checking account in a US bank
- Valid ID, income, and address proofs
#3. Viva Payday Loans – Best For Online Installment Loans No Credit Check Quick Payouts
Highlights of Online Installment Loans
- Online installment loans start from $100
- Applications from individuals with bad credit are also considered
- No obligations, no hidden fees, and no additional charges
- Flexible and borrower-friendly payback options
- Wide network of US-based lenders
Viva Payday Loans gives borrowers seeking online installment loans an opportunity to bond with trustworthy and certified lenders. They consider loan requests from all individuals in America who have attained a minimum age of 18 years old. Online installment loans through Viva Payday Loans are available in amounts ranging from $100 to $5,000.
Unlike many banks, lenders associated with Viva Payday Loans do not distinguish borrowers on the basis of credit scores as long as they have a sustainable source of income. When it comes to the repayment terms, their partner lenders give borrowers the option to choose any period from 3 – 24 months. Here, lenders make maximum efforts to approve loan requests in minimum time. It can be proved from the simple online form and quick processing as well as approval of installment loans.
Eligibility Requirements for Online Installment Loans
- Minimum age of 18 years
- US citizen with a legal ID and address proof
- Earnings of at least $1,000 every month
- Active bank account
#4. Green Dollar Loans – Bad Credit Installment Loans Guaranteed Approval
Highlights of Bad Credit Installment Loans Guaranteed Approval
- Almost guaranteed installment loans of $100 – $5,000
- Lenders often approve and process loans on the same day
- Multiple repayment options that match the borrowers’ financial conditions
- Requests from individuals with bad credit scores are also considered
- Competitive interest rates start from 5.99%
Green Dollar Loans is a unique source to get almost guaranteed installment loans for bad credit from reliable lenders. They are preferred most by individuals with a bad credit history or poor credit scores. This platform help borrowers get guaranteed loans for bad credit ranging from $100 to $5,000.
With streamlined online procedures, all lenders associated with Green Dollar Loans process and transfer guaranteed installment loans for bad credit within 24 hours. You won’t need to provide physical documents if you apply for loans through this platform. They allow loan seekers to make online loan requests, which is eventually advantageous for lenders and borrowers. APRs on their installment loans range from 5.99% – 35.99%.
Eligibility Requirements for Bad Credit Installment Loans Guaranteed Approval
- Regular income of over $1,000
- Valid ID, proof of income, and resident proof
- Bank account that accepts direct deposits
- US citizen of over 18 years
#5. Big Buck Loans – Best For Online Installment Loans Instant Approval
Highlights of Online Installment Loans Instant Approval
- Online installment loans instant approval between $100 – $5,000 are available
- Wide network of reliable partners and third-party lenders
- Borrowers are kept free from any upfront fee or additional costs
- Approved funds are usually transferred within 15 minutes
Big Buck Loans is one of the few unique platforms where borrowers can submit online requests for online installment loans instant approval.
Whether you need money for home repairs, maintenance of your car, clearing emergency medical bills, or anything else, you can always visit the site of Big Buck Loans and apply for online installment loans instant approval. You’ll be offered financial help (up to $5,000) from credible lenders in the United States. The best thing is that you can repay this amount in fixed monthly installments matching your repayment plan.
Eligibility Requirements for Online Installment Loans Instant Approval
- American citizen of at least 18 years
- Savings or checking account in any US bank
- Minimum earnings of $1,000 per month
- Government-approved address and identity proofs
Types of Guaranteed Installment Loans For Bad Credit No Credit Check Direct Lenders Only 2023
? Personal Installment Loans
Personal installment loans are meant for individuals who want to borrow a fixed sum of money and repay it in regular installments (often monthly).
? Bad Credit Installment Loans
Bad credit installment loans are little more than ordinary personal loans. Here, lenders don’t mind whether the borrower has good, average, or bad credit. Every borrower gets the opportunity to borrow money as long as they have some sort of income.
? No Credit Check Installment Loans Alternatives
No credit check loans alternatives are designed especially for individuals with poor credit scores. Instead of hard credit checks, the providers of these loans needs prove of a reliable source of income of the potential borrower.
? Guaranteed Installment Loans For Bad Credit No Credit Check Alternatives
Almost guaranteed financial assistance to people deprived of installment loans because of bad credit.
What Are Installment Loans & How Do They Work?
Installment loans are types of loans that help people borrow a fixed sum of money and repay in regularly scheduled installments. In installment loans, the borrower may or may not pay a part of the principal amount. Depending on the lenders, the interest rates on these loans are either fixed or floating.
When you get an installment loan, the funds are given to you quickly. You repay the borrowed money in installments, which are planned payments accompanied by interest. You usually owe the same sum on each installment for a specific period of weeks, months, or years. Your account is permanently closed after the loan has been repaid in full.
How to Apply for Installment Loans Online in Quick Steps
When you apply for installment loans online through Low Credit Finance, these quick steps will simplify things:
Step1: Choose the Amount for Your Installment Loans Online
Once you open the website of Low Credit Finance, you can choose installment loans for any amount between $100 – $2000 for a period of 3 – 24 months.
Step 2: Complete the Online Application Form for Installment Loans Online
The next step would be to follow a simple loan request form. It is an online form and requires only the borrower’s basic personal and financial details. You can easily fill in the information in 2-3 minutes.
Step 3: Wait for a Decision on Your Application for Installment Loans Online
Now, give them approximately 2 minutes to decide on your application for installment loans online. You’ll then be redirected to a relevant lender’s website.
Step 4: Get Your Amount for Installment Loans Online Right into Your Bank Account
Once you finalize the installment loan offer, go through its terms and conditions, analyze the overall costs, sign the agreement, and send it to the lender. After reviewing your application, the lender will transfer approved funds directly into your savings or checking account.
Installment Loans for Bad Credit Features & Factors to Consider
No Collateral is Required for Installment Loans for Bad Credit
In order to provide installment loans for bad credit, many online lenders don’t require any collateral from borrowers.
Installment Loans for Bad Credit Welcome All Credit Scores
Installment loans for bad credit provide borrowers with low credit scores the same financial assistance as borrowers with high credit scores. Finding lenders of installment loans for those with poor credit, however, may be difficult. So, the easiest way is to explore one of the sources listed above.
Interest Rates on Installment Loans for Bad Credit
Interest rates on installment loans provided to individuals with a bad credit scores are often higher. The best way is to check multiple offers from different lenders and finalize the one beneficial for financial health.
Payback Period of Installment Loans for Bad Credit
A borrower should carefully choose the payback period while finalizing installment loans for bad credit. The lenders of these loans provide multiple repayment options, but borrowers should weigh all the costs before choosing one. Remember, overall costs increase when you choose a longer payback period.
How Did We Choose Providers of Best Online Installment Loans?
Our focus was on the following parameters while choosing providers of the best online installment loans:
- Available installment loans range from $100 – $5,000
- Competitive APRs falling in between 5.99% – 35.99%
- Borrowers are offered flexible repayment options
- All processes are online and don’t require any paperwork
- Installment loans are free from hidden fees or additional charges
- Realistic minimum eligibility requirements
- Partner and third-party lenders are certified and trustworthy
- Individuals with poor credit scores can also request installment loans
Installment loans help borrowers in several ways. In addition to giving them a fixed sum, they also provide them the opportunity to enhance their credit ratings. Some of the best offers on installment loans are available through Low Credit Finance. Any American citizen fulfilling the minimum eligibility requirements can approach them for fast cash. Remember that lenders won’t place limitations on the borrowed funds, but you should use them carefully to avoid additional borrowing costs.
What is the Difference Between an Installment Loan and a Payday Loan?
The borrowed amount and interest in payday loans are fully repaid on the next payday. In the case of installment loans, daily interest is accrued and repaid in fixed installments over a pre-defined period.
Can I get an Installment Loan with Poor or Bad Credit?
Lenders nowadays do not depend only on credit scores to assess the creditworthiness of borrowers. They consider many other factors to make decisions on requests for installment loans. It implies poor or bad credit will not prevent you from getting an installment loan.
Where Can I apply for an Installment Loan?
You can apply for an installment loan through online sources like the ones listed above. They act as a trustworthy link between borrowers and lenders. While you can also use search engines to look for online lenders, there is always a risk of running across a scam.
Disclaimer: 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.