You will find there are a plethora of possible lenders for online installment loans, some of them reputable, some of them not. You will also find a wide difference in the terms of the loans, which makes it crucial that you take the time to read the terms and conditions.
The most obvious factor to look for is the interest rate. Some online lenders have extremely exorbitant APRs, but others have reasonable, affordable rates.
Your credit history may affect the interest rate and terms you receive, but longer repayment terms also tend to increase rates. The lender should allow you to have the cash direct-deposited into your bank account, and you should also be allowed to pay back the loan online and opt for automatic withdrawal on due dates if you so choose.
Some lenders will allow you to pay back via mail as well. Cash loans given for fair credit best lenders will allow you to pay back the loan early without penalty and may even allow you to cancel the loan within a specified period. How Bonsai Finance Helps You With Online Installment Loans. After the flurry of information given just above on online installment loans, you may still be wondering, How can Bonsai Finance help me with these types of loans.
To qualify for a payday loan, most states require you to be 18 or older. You also need to have a valid phone number, and you need to be able to provide proof of employment. An active checking account is usually required if you want to qualify for a payday loan, but some lenders will issue loans if you can provide proof of a savings account. Finally, some lenders require a social security number. What is a payday loan.
A payday loan is one that is typically repaid with the borrower's next paycheck.
We simplified the process. Apply for your payday loan online in minutes, without driving around, tons of paperwork, and long waits. Easy Application. Complete our online application. It's quick, easy, and secure. Fast Decision. If youre accepted you will be connected directly to your lender, usually within 90 seconds or less. Get Your Cash. Cash is deposited in your account in as little as 1 business day.