New installment loans by lending companies
With an installment loan, you borrow a specific dollar amount from a lender and then pay the amount back with interest, in a series of monthly payments. Qualifying for an installment loan is a great way to pay for your home, car, even your college course based on your financial situation and overall credit score.
How can one qualify for an installment loan?
- Your credit score, your annual income, and your debt-to-income ratio will help a lender to determine the interest rate or whether you qualify for an installment.
- Lenders use the debt-to-income ratio to see how much can you responsibly afford in the installment loan.
- A lender will ask a lot of questions like your current employer’s name, and the number of years you have worked for the said employer.
- These and many such questions help the lender determine how well you will be able to manage your monthly payments.
What kind of installment loans are provided by OppLoans and what are their requirements?
- The minimum loan amount provided by OppLoans is $500 and the maximum is $5,000.
- Loan terms go from 9 months to 36 months.
- Turnaround time for OppLoans is 1 business day.
- You need to have a bank with at least a 90-day history.
- Use a direct deposit to receive your salary. This rule is exempted in New Mexico.
- You also need to meet a minimum wage requirement. It can vary between $1,300/- per month to $3,600/- per month depending on the state.
- You need to be in your current employment for at least 3 months.
- Your minimum age should be 18 or above to apply for the loan. The minimum age limit is 19 in Alabama.
- You should not be an active duty service member or dependent on one.
What is the application criteria for installment loans by CashUSA?
- CashUSA provides a minimum loan for $500 and a maximum of $10,000.
- The loan term can range from 90 days to 72 months.
- The turnaround time is usually 1 business day.
- To apply for CashUSA loan you should have a valid checking account.
- A monthly salary of $1,000 or above after taxes.
- Need to be a US citizen or a permanent residence.
- Minimum age limit is 18 years.
What should I know about LendYou installment loans and their criteria?
- LendYou is a loan connection service which is in contact with a number of third-party providers. Once you apply for the loan, LendYou sends your application to its affiliate lenders.
- If a lender thinks you are suitable for the loan, you will receive an offer.
- The applicant’s age should be more than 18 years.
- The applicant should have a checking account in their name and salary should be deposited directly to that account.
- Minimum wage should be at least $1,000 after taxes.
- LendYou also provides minimum restrictions provided you use the loan for legal purposes.
- LendYou provides Unsecured loans, therefore you do not need to provide any collaterals or assets when you apply.
Does SalmDunk provide any installment loans?
- SlamDunk helps you get in contact with a quick cash loan providers.
- Some lenders with SlamDunk will expect high APR’s and fees.
- One of the main benefits of SlamDunk loans is that there is no obligation application. You don’t need to accept the loan if you are unsatisfied with the terms.
- It’s easy to apply for a loan with SlamDunk and its turnaround time is a business day.
- With SlamDunk, you can loan as less as $100 to as much as $2,500.
- SlamDunk’s requirements are that you must be employed, receive regular income, earn at least $800 a month, have a checking account, be 18+ yrs old and a US citizen.
How does BadCreditLoans.com help its customers?
- If you have a bad credit and in need of a loan, then as their name suggests BadCreditLoans.com can help you with it.
- It’s free to apply for a loan from the website.
- If you apply for a loan and don’t like the terms, you can deny the loan.
- If you do get a loan and approve of the terms, BadCreditLoans.com will help you discuss the terms in detail as long as you need.
- You can get as less as $500 to as much as $5,000 with a Term of 3 months to 36 months.