Installment loans

Installment loans will solve all your financial problems. You choose the amount to request and decide how long you can reimburse it .

Do you need to repair your car and do not have money available? Do you have an emergency that requires immediate action , but you don't have the money to deal with it? You don't have to wait until the end of the month to collect your salary. Installment loans can help you solve this and other circumstances of your day to day.

And don't worry, the application process does not usually take more than 5 minutes . You just have to fill out a form with your data and follow a short route to receive the money in your bank account in the shortest time possible. If you don't have the time to go to a physical venue, don't worry! You can apply for an installment loan online.

Offer of loans to be repaid in installments

Last update: 6 November 2020
Ranking created based on the most frequently granted loans
1 - 48 months
term
$ 50 - $ 7,500
maximum first loan
No
Supports Credit Checker
" APPLY FOR "
6 - 84 months
term
$ 1,000 - $ 50,000
maximum first loan
No
Supports Credit Checker
" APPLY FOR "
6 - 60 months
term
$ 500 - $ 10,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 60 months
? Even from 7 days
term
$ 50 - $ 9,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
2 - 36 months
term
$ 100 - $ 5,000
maximum first loan
No
Supports Credit Checker
" APPLY FOR "
6 - 96 months
term
$ 1,000 - $ 50,000
maximum first loan
No
Supports Credit Checker
" APPLY FOR "
1 - 48 months
term
$ 50 - $ 5,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
18 months
term
$ 100 - $ 1,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
3 - 24 months
term
$ 1,000 - $ 5,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
16 years
term
$ 500 - $ 50,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 36 months
? Term from 1 day for microcredits
term
$ 100 - $ 15,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "
17 years
term
$ 8,000 - $ 500,000
maximum first loan
Yes
Supports Credit Checker
" APPLY FOR "

What are installment loans?

They are financing to be returned in installments that you can request at a financial institution. That is, the institution allows you to reimburse the money in comfortable monthly installments according to your financial capacity. You decide how long you will do it.

All this information is recorded in the initial contract. So you will have to respect the terms together with the monthly payment to be canceled for the time that the personal loan lasts. If the amount is minimal, you can cancel it up to a period of one month. On the other hand, if the amount is high, they can grant you a period to pay up to 8 years.

Therefore, the first thing you should take into account when applying for an installment loan is how much money you need . Based on this, you must also determine in how many installments you can return it . It is very important that you consider your financial situation when answering the last question. Thus, you avoid delays in payment.

Installment loans are a good alternative if you are thinking of buying consumer goods with a significant value. And you need a longer payment term and with more affordable interest that fit your financial situation. Remember that the application process is simple and the response is immediate , the solution you need.

How do installment loans work?

Quick installment loans are requested at credit institutions. Fortunately, most of these private lenders have online platforms, from where you can apply. So it is no longer necessary for you to attend a physical headquarters and stand in a long line to wait for a number and be attended.

The operation of these quick loans is very simple. When asking for the amount of money you need, they will indicate the interest rates that you must pay. Also, you must negotiate the repayment term for this financing. In addition, to facilitate the management of these credits, many lenders do not request as many requirements or guarantees or guarantees .

It is worth mentioning that, in fast installment loans, the monthly payments are generally fixed amounts . That is, there are usually no variations from one month to another. So, from the beginning, you will know how much you are going to pay each month . What will allow you to review your personal finances to meet the payment obligations to acquire.

Interest rates on installment loans

Although the application procedure for online installment loans is simple and fast, there are other elements that you should consider before making your application. Such as interest rates that are usually higher than other types of financing . Well, you receive the money almost immediately and you choose the terms. The most common terms of a personal loan are 12, 24 or 36 months, although you can repay the credit in a term that best suits you.

Of course, you must bear in mind that the interests vary depending on the private lender you choose to request the loan to be paid in installments. In addition to this, the conditions that lenders handle also influence the interest rate.

You could request € 5,000 with an APR of 79.6%, with a repayment period of 24 months. The monthly fee could be € 362, approximately.

Another point that is worth highlighting and considering, at all times, is that these rates will also fluctuate according to the use that will be made of the money. In addition, the interest rate will be affected by the volume of the personal loan requested and the contribution , or not, of guarantees or guarantees (housing, mortgages, etc.). It will already depend on the lender.

For this reason, it is not recommended that you make a hasty decision without first reviewing the conditions offered by various lenders. Perhaps the need or problem you want to solve needs immediate action. But you should give yourself a brief moment to analyze which lender is best for you because of the conditions .

Also, keep in mind that, submitting constant requests in different financial institutions can affect your credit history. And, in the long term, this negative impact could close your doors to the best lenders on the market .

Types of online installment loans

There are different types of installment loans that users can apply for online. For example, installment lines of credit, with any lender, have the advantage that you can access money quickly, without consuming it immediately. In addition, the monthly fee and the term can be managed based on your personal finances.

Just as there are differences between one type of fast personal loan and another, the same thing happens for online installment loans. We can classify them taking into account the amount and time of return .


The main types of term loans being the following:

types of installment loans

Credit cards

This type of financing offers you a limit of money at your disposal, to use a certain amount of money when you need it and at any time. The best thing about credit cards is that you can return the money in comfortable monthly installments and with different interest rates according to the term you choose.

As for the limit that you can request, this will depend on the lender you select.

Personal installment loans

A personal loan is intended, of course, to individuals to fulfill personal or work projects. However, to know what type of financing is the most convenient for you, you need to identify if you are requesting it to cover a situation in the short, medium or long term.

This is very important, because the world of personal installment loans is huge, and you will find offers from 1,000 to 40,000 us dollars. Choosing well is the key to not risking your financial well-being.

  • Short-term loan : used to cover health emergencies, unexpected repairs, or payment for services. Their repayment terms range from 30 to 60 days.
  • Medium-term loan : users request a loan to be repaid in 3 months to cover medical procedures, tuition fees or any expense where they need more time to fully pay the debt without compromising their financial stability. For this reason, it has a return period of 90 to 180 days.
  • Long-term loan: ideal for commercial entrepreneurship projects, with terms from 12 months to 36 months, although you can find some lenders that offer up to 10 years of term.

Installment loans with endorsement or guarantee

Loans with an endorsement are a type of installment credit, you must provide an endorsement or guarantee as proof that you will respond with the total amount of the loan plus interest. Of course, you must be the holder of these guarantees . Keep in mind that, failure to pay could cost you the total loss of the property. You can have a loan for your car or guarantee a property or a home mortgage, for example. If you do not have a property in your name and your financial situation is difficult, you can request a loan with Fianceo that requires a guarantor who will respond for you with their assets.

The amount to be obtained will depend on the value of the good that you are offering as collateral. It can be 60% in the case of home equity loans, or a percentage of the appraised value. As for repayment terms, they could be from 12 months to 20 years, depending on the conditions of the lenders.

Online Credit Lines

It is a type of loan offered by banks and lenders, which allows you to withdraw money up to an agreed limit . Unlike personal loans where you receive a certain amount of money, you do not need to access all the money at once.

When requesting a line of credit , you only pay interest for the money you have consumed and now that you can request it through your online banking, you will not have to assume any opening commissions either.

This means that, if you request a line of credit for 5000 us dollars and you do not consume anything for a month, you will not have to pay monthly fees, commissions or interest.

We could say that its operation is very similar to that of a credit card. However, the amounts financed are higher and have lower interest rates . In addition, the repayment terms usually range from 5 months, 24 months, up to 36 months.

When to request it?

Applying for lines of credit can be useful for different purposes. For example, it is advisable to request a commercial line of credit when you start a new business , since you need to make several investments to condition the premises, gather the initial inventory, pay operating expenses or renew the equipment.

It is also possible to apply for home equity lines of credit if you just moved and need to remodel or make repairs in your new residence, but you don't know exactly how much money it will take to request a personal loan.

Uses of an online installment loan

Although lenders do not dictate how a fast installment loan should be used , it is recommended that you apply only if you need the money urgently. And that, in addition, you consider your personal finances when deciding the term in which you are going to return the amount and the accrued interest.

Among some uses that you could give to an online personal loan :

  • Car or home repairs.
  • Medical expenses, those that are not covered by insurance.
  • Public utility bills.

If you wonder when is the best time to apply for online installment loans? The answer will depend, among other things, on how you will use the money. As well as the current situation of your personal finances, and the priorities you are considering when obtaining this financing.

Loans to be repaid in installments allow you a comfortable and flexible repayment . However, the longer it takes to cover the amount, the more interest will be added. This, you should also consider from the beginning.

Advantages and disadvantages of personal installment loans

Like any other financial instrument, installment loans have pros and cons that you should review when you consider applying for one.

Advantages of installment loans

People turn to installment loans for many reasons. Among them:

  • Higher amounts : in installment loans it is possible to request higher amounts and request a longer period of time. Also, divide the refund into installments. This, depending on the type of term loan you hire.
  • No need for a fixed payroll : it is not necessary to have a fixed payroll in a company. If you are a pensioner or self-employed worker, but have regular and sufficient income to meet the payment, you can apply for financing.
  • They do not request a guarantor : most private lenders do not request a guarantor to back up your credit application. Lenders take your economic profile into consideration to grant the personal loan. Loans with guarantees are a type of term loan. Which does not imply that all deserve an endorsement.
  • Quick and easy to process : in a few hours you can receive your financing. The best of all is that without moving, queuing, or handing over mountains of paperwork.
  • Flexibility in the request : you decide the amount you require and the term you need to cancel the money. In addition, the requirements are simple to meet and loans with Credit Checker are not restricted. Compared to other financing that does consider a negative credit rating.
  • No opening fees : many installment loans are exempt from added commissions at the time of hiring. So the amount that you will see in the lender's simulator will be the total amount that you will have to repay. Of course, as long as you respect the fees for each month.

Disadvantages of an installment loan

The mini credits to pay in installments have many positive aspects. However, they also have some disadvantages that you should know before requesting them. Among them:

  • Higher interests : unlike other financial instruments, installment loans have a higher interest rate that you should review and compare to find the most attractive.
  • Payment of late fees : although they do not generate commissions for opening, they do add charges for breach of any clause of the financial contract.
  • They request recurring income : although lenders do not require you to be on the payroll , they must ensure that you have the capacity to cover the respective loan installments. Therefore, they ask you to demonstrate sufficient and recurring income . Otherwise, you will not be able to obtain the installment credit.

Requirements and conditions to apply for loans to be repaid in months

The application process to get loans to be repaid in months is very easy, fast and completely online. Mainly, you have to meet the following requirements and conditions:

  • Age between 18 and 72 years.
  • Valid DNI / NIE.
  • Be domiciled in Spanish territory.
  • Have a bank account in your name at any bank in United States.
  • Own an email that is active.
  • Mobile phone registered in your name for contact.
  • Receive monthly and periodic income that allows you to face the payment.
  • For some lenders, it is necessary to not be listed in Credit Checker. So this condition should be reviewed according to the lender you are going to hire. It may be the case that the selected lender does accept Credit Checker.

Regarding the contracting of credit cards , as a type of loan to be repaid in months, some financial institutions may require you to open a bank account with them. Or, direct your payroll to their staff.

Another aspect that you should take into account is that the requirements and conditions will depend on the characteristics of each loan . As well as the internal policies of the financial institution that grants it. So the above requirements and conditions could add or subtract one point, depending on the lender.

Once you have selected the lender that best suits you, you can check their requirements and conditions in our opinions section. There, you will find detailed information about the online loans offered by the lender. Such as conditions, requirements, application process, among other relevant information.

Procedure to apply for an installment loan

While the requirements between lenders may vary slightly, the application process still follows the same steps. In a few minutes you can request an installment loan and receive the money in your bank account. You just have to:

  1. Enter the lender's website : enter the lender's website and in the simulator choose the amount and period to repay the money. When you agree, accept and continue with the form.
  2. Sign up : fill in the online form with all the required personal and financial information. This form has a universal structure, its variation can be minimal between one lender to another.
  3. Confirm the data : the credit institution will contact you, either by SMS message or by phone call. You must confirm the information you provided and then wait for your request to be approved in a few minutes.

Cost of online installment loans

The final cost of an installment loan will be conditioned by the commissions and the interest rate applied . So, to decide which is the most recommended credit, you should consider more than the minimum TIN. You must also consider the APR, here the applied interest is included added to all commissions.

In the same way, you should consider other possible commissions that may be linked to the contracting of an installment loan. Such as fees for early cancellation of the loan, study fees linked to its approval , formalization expenses and late fees for late payments .

Frequently asked questions about loans to repay in installments

⭐️ What are installment credits?

They are financing that you can return in comfortable monthly installments. Its main advantage is that you have the power to decide when you can repay it, considering the maximum period allowed by the financial institution.

⭐️Are the interest rates high?

It depends on the lender. Therefore, it is best that you analyze the offers well and evaluate the conditions. In order to hire the most attractive service.

⭐️ What are the payment terms of a personal loan?

The repayment time varies depending on the private lender you choose. However, the terms can range from 1 month (very minimal amounts, such as € 500) to 10 years (high amounts, such as € 80,000).

⭐️ What are the types of online installment loans?

Credit card, lines of credit, mini-credits and loans with collateral.

⭐️ What are the requirements to request an installment loan?

Be over 18 years old, have a valid DNI or NIE, be domiciled in the United States, have a bank account, have an active email / mobile phone and own name, maintain periodic income. In some cases, not being in Credit Checker.

⭐️ How is the process of applying for a loan to be paid in months?

The process does not usually vary from one lender to another. You just have to enter its official website, fill out the form with your data and wait for the approval of the application.

⭐️ Is it possible to pay an advance fee?

This will depend on the lender. Some do not admit this option because the accumulation of interest suits them. Whereas, there are other lenders who don't care about advance payments. Therefore, you should check with the lender if there are additional charges for paying an advance fee.

⭐️ How to know if the application has been approved?

They will inform you via email or SMS, depending on the lender's policies. This information will be notified to you during the application process.

⭐️ Is it possible to make a new request if the first one was denied?

Most lenders admit that you can make a second application. Maybe you should wait an average time. Therefore, you should check with the lender.

⭐️ What aspects to consider when comparing installment loans?

The loan amount, interest rates, fees, monthly installments, terms and speed of money transfer.

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