5 popular companies offering installment loans

Installment loans allow a respective borrower to repay the amount in installments instead of paying the entire loan’s amount at once. Installment loans are beneficial as they give the borrower enough time and flexibility to repay the amount in due time. In this way, the borrower is able to break down the principal amount and repay the total principal in bits.

Certain companies, such as the following, have a specific credit score requirement. Borrowers who meet this required credit score are eligible for installment loans.

LifeLoans
For an amount ranging between $500 and $40,000 for a term ranging from 2 months to 5 years, borrowers can avail an installment loan. LifeLoans conducts credit checks on the applicants, expecting a minimum score of 580, before making the decision. The deposits, in most cases, take place the next day and the approval rates are generally high.

PersonalLoans.com
Any amount ranging between $500 and $35,000 for a term ranging from 3 months to six years can be availed. They usually carry a soft credit check on the applicants. For personal loans too, the approval rates are high and an applicant requires a credit score of at least 580. The annual percentage rate (APR) starts at around 5.99 percent. The installments are carried out swiftly through the banks. It’s available in 50 states across the country.

CashUSA.com
Any amount from $500 to $10,000 for a period of 3 months to 6 years can be availed. CashUSA.com does not have a special preference for credit scores. In fact, loan requests by applicants are accepted and approved within minutes. The funds are directly transferred to the borrower’s bank account. There is no restriction with respect to where the borrower many spend the loan money.

Avant
Any amount between $2,000 and $35,000 for a term of 2 to 5 years can be availed. With a minimum credit score of 580, individuals may qualify to receive the loan applied for. It does not require the applicant to keep a collateral which might include a car or a home equity. They provide a plethora of offers out of which the applicant may choose the most suitable one.

QuickLoanLink
Any amount between $300 and $35,000 for a term of 2 months to 7 years can be availed. However, they conduct a soft credit check where a minimum credit score of 550 is required. The approval rates for loans are high and the time taken to decide can be as less as a minute! The APR for the loans starts at 6.90 percent.