Best Online Installment Loans For Bad Credit: Get Instant Payday Loans Online Guaranteed Approval In 2022

Suppose you are looking for the best installment loans in the marketplace. In that case, here, you will discover the best brands worthy of your consideration and how to get better terms and conditions from the lender, types of loans, and other financial products.

Moreover, before going through the criteria of what we value in the brands, we must mention that these are not direct lenders but a middle man that connects you with lenders.

Furthermore, the lender could put your loan in your bank account the same day you have applied if you agree to the terms and conditions of the proposal. All that sounds great, right?

Therefore, without any further ado, let’s discover the best platforms for loans and how we chose them for our list!

5 Best Online Installment Loans Instant Approval 2022

  1. MoneyMutual: Overall Best Installment Loans For Bad Credit; Editor’s Pick
  2. BadCreditLoans: Get Online Loans For People With Bad Credit
  3. RadCred: Top Marketplace For Bad Credit Personal Loans
  4. CashUSA: Popular Lender For Short Term Loans With Instant Cash Advance
  5. PersonalLoans: Recommended Platform For Installment Personal Loans

Reviews Section

#1. MoneyMutual: Overall Best Installment Loans For Bad Credit; Editor’s Pick

MoneyMutual is an online lending platform founded in 2010 and focuses on installment loans, personal loans, and quick cash advances.

However, MoneyMutual doesn't operate as a direct lender; instead, it connects lenders with qualifying borrowers. Simply fill out an application, specify the required loan amount, and let MoneyMutual do its work.

MoneyMutual occasionally can approve your loan and deposit the funds into your account in as low as 24 hours. Additionally, the business collaborates with several lenders prepared to grant unsecured personal loans for borrowers with credit scores of 600 or less.

There are no hidden fees or service costs, and you can access MoneyMutual's network of lenders for free. The business is also a recognized member of the Online Lenders Alliance, a group that promotes standards and best practices for online lenders while also working to protect consumers.

Furthermore, applicants must be 18 years old and have a minimum monthly income of $800 to use MoneyMutual. It is an excellent option for the elderly or veterans because some lenders in the network even accept social security, disability, and other sorts of benefits as qualifying income.

Click here to visit the official website of MoneyMutual


User-friendly website

The MoneyMutual website offers the ideal environment for users to assess and evaluate every facet of the loan. You may find nearly everything you require to make the best financial decision possible when applying for loans on their platform.

Furthermore, users can access financial information from MoneyMutual on various loans, including installment loans and how they function.

Suppose you are worried about your eligibility, the lender's legitimacy, the offer's conditions, the advantages and disadvantages, and other aspects of payday loans. In that case, you may get help from MoneyMutual by getting all your inquiries answered.

Quick turnaround

Due to the platform's extensive lender network, MoneyMutual will quickly introduce you to the best lenders. Furthermore, the chances of approval are more significant than those of competitors, and the application procedure is quick and easy.

After your application is approved, the lender will deposit the funds the next working day, unless it is a weekend or holiday.

Moreover, Money Mutual does not reveal the APR you might be offered if you apply for a short-term loan. You can see this only after receiving a loan offer from an online lender.


MoneyMutual does all of its business ethically and with complete openness. As a result, it doesn't charge additional fees or costs at any process stage. Additionally, all lenders are honest and reliable throughout the procedure.

Security and privacy

MoneyMutual is a respectable website that protects the privacy of its consumers. That is, Norton's 256-bit encryption secures the loan application process. Also, regular scans help them identify dangers and stop malware from giving hackers access to customer information.


  • The platform accepts customers with bad credit
  • You get the funds in as little as 24 hours
  • There is an extensive network of lenders
  • OLA member in good standing with a good collection of educational resources
  • You can get funds from $200 up to $5,000


  • Maximum loan amount of $5,000
  • Not accessible in every state
  • No live chat assistance

#2. BadCreditLoans: Get Online Loans For People With Bad Credit

As its name suggests, BadCreditLoans specializes in giving customers with bad credit scores quick access to money when they most need it. We were impressed to discover options for home loans, auto loans, and even school loans offered on the site, which go far beyond installment loans.

In contrast to most lending networks, credit card issuers are part of the BadCreditLoans network. Even while the interest rates will probably be higher than usual, especially if your credit score is in the low 600s, it is an excellent choice if banks or credit unions have previously turned you down.

Credit cards are not only convenient and necessary when renting a car or a hotel room, but they are also one of the most acceptable methods to raise your credit score (when used wisely, of course).

Customers that meet the requirements can get loans up to $10,000 with BadCreditLoans. In contrast to similar services, there is no minimum monthly income requirement during the quick and simple sign-up process.

Additionally, many of the lenders on the website's network accept Social Security and Disability checks as regular sources of income, which is helpful if you are an elderly borrower searching for a quick personal loan.


APR, interest rates

Most internet lenders want you to repay the loan in 36 months, so many borrowers wind up paying high-interest rates. BadCreditLoans provides unsecured payday and personal loans with lower interest rates to assist borrowers with bad credit; also, APR ranges from 5.99% - 39.99%

Additionally, no credit check is performed on the credit report you provided in response to the request. The business does not impose an upfront fee because the platforms do not hire brokers. Instead, the website is a forum where lenders and borrowers can interact.

Easy application process

It is easy to qualify for a loan at BadCreditLoans because the company doesn't ask you to provide a lot of paperwork. They also have a straightforward application layout that is easy to understand and complete.

While lounging on your couch and looking through the profiles of different lenders on our website, you may use your smartphone to apply for a loan.


The website is simple and open regarding the information it provides to its customers. For instance, their website warns that you can be charged a fee if you try to get a loan after your application has been rejected. It is a valuable and efficient way to provide users with information.

Eligibility criteria

If you meet their eligibility requirements, being over 18, having a reliable source of income, and having both work and home contact numbers, you may apply. Furthermore, a checking account, proof of US citizenship, and an email address are also necessary.

Click here to visit the official website of BadCreditLoan


  • Loans with bad credit up to $10,000
  • Credit cards are accepted
  • There is no minimum credit score necessary
  • No requirement for a minimum monthly income
  • High level of approval
  • Accessible loans for autos, homes, and students


  • Some loans may have high-interest rates
  • Not accessible in every state
  • The application procedure takes a while

#3. RadCred: Top Marketplace For Bad Credit Personal Loans

Online lenders like RadCred make borrowing simple and available to those with all types of credit, even those with bad credit. Through a network of independent lenders, users can apply for loans using the free program RadCred.

Their company has no additional costs, and thanks to encryption technology, all submitted information is secure. RadCred is frequently modified to match your particular requirements. You can select from various lenders to find the best offer and change the interest rate or period.

After submitting the form, the platform will present you with a range of possibilities from independent lenders, from which you can select the best suggestion based on your loan needs and conditions.

They have committed to fair and honest consumer practices and, like MoneyMutual, are members of the OLA. RadCred provides its users with the most outstanding service while abiding by all federal laws and regulations, safeguarding its customers against fraud and other nefarious internet dangers.

Moreover, their website has no information about maximum, minimum loan amount, or APR. You can get these kinds of information only after you apply.


Simple requirements

Although getting a loan with a bad credit score is difficult, this company makes the process easy and fast. Under a specific policy for lending programs for those with bad credit, there are no credit checks. Instead, you must provide a few essential personal details to qualify for a loan.

A loan applicant must be at least 18 years old, have a bank account in their name, and show proof of a consistent source of income. People living in New York or Connecticut or filing for bankruptcy are ineligible.

Quick funds

In times of need, people apply for quick loans. Therefore, speed is essential when approving the loan and transferring the funds. You can use this service to get loans as soon as feasible.

It is one of the quickest ways to transfer money because it is an online transaction. Within one business day, you will accept your loan, and the lender will deposit the funds into your bank account.

Multiple loan arrangements

For various reasons, you can apply for a loan at RadCred. For unforeseen costs like auto repairs or medical bills, you can get money for debt consolidation loans or debt relief.

Additionally, RadCred will assist you with paying for a mortgage, college costs, trips, and other obligations. In addition, RadCred could help you with big purchases, starting a business, and moving.

Flexible lenders

A missed payment can severely damage a credit score that is already damaged. Many people face a similar problem on other platforms that do not allow for debt payback leniency.

On the other hand, the lenders at RadCred are aware that specific customers cannot choose a monthly payment option. The website advises informing your lender before the due date as a result.

Visit the Official Website of RadCred


  • The website is easy to use
  • Funds are available within 24 hours
  • The application process is straightforward
  • High levels of transparency
  • The platform provides no credit checks


  • Not having a significant market capitalization

#4. CashUSA: Popular Lender For Short Term Loans With Instant Cash Advance

Another substantial lending network that conducts installment loans for most other costs, home remodeling, and debt reduction is CashUSA. CashUSA is relatively straightforward to work with in this aspect, and they'll even handle a loan request for more frivolous costs like a trip or car update.

If you are considering consolidating your credit through a personal loan (if you are drowning in credit card debt and have a good to fair credit score), CashUSA accepts loan requests up to $10,000, making them a strong contender for the position.

Several lenders in the CashUSA network also provide lines of credit in addition to conventional installment loans. You might find a line of credit more practical than a personal installment loan, which has fixed monthly payments regardless of how much you spend because you only pay interest on the money you use.


The straightforward application process

You don't have to undergo strict application procedures to use CashUSA. To apply for the loan, you only need to submit an online application in three easy steps. If the platform accepts your request, several lenders will provide offers. You must select the most reasonable deal to get money on the same day.

Fast transactions

Since CashUSA respects your time and confidence, clients continue to return for additional assistance. The platform will swiftly approve your request and advertise it to qualified lenders if all its information is accurate. By doing this, you will be able to get the loan the same day that you apply for it.

Visit the Official Website of CashUSA


  • Available loans up to $10,000
  • Available credit lines and consolidation loans
  • Loan terms from 90 days to 72 months are available
  • P2P financing and secured individual loans
  • There are affordable interest rates
  • Speedy application procedure
  • Applicants without credit histories are welcomed


  • Monthly income requirement of $1,000
  • Shares your information with marketing partners

#5. PersonalLoans: Recommended Platform For Installment Personal Loans

PersonalLoans has been a player in the loan market for 19 years. The PersonalLoans simple application process and broad network of lenders make comparing terms and interest rates simple.

Moreover, peer-to-peer lenders are one of the primary characteristics that set this organization apart from other lending networks.

PersonalLoans accepts customers with all credit histories and doesn't just target those with bad credit. As a result, the minimum required monthly income is $2,000, which some people may perceive as too high.

Additionally, it is one of the few networks for personal loans that accept applications for loans from $1,000 up to $35,000.

On its website, PersonalLoans makes it quite clear that while having fair or good credit is usually preferable, however, if you don't have to have those, it doesn’t always mean that you are not eligible for a personal loan.


Secured platform

Because you will be revealing a lot of personal information, the security provided by online lending platforms is essential. They use strong data encryption technology to protect any information you give with PersonalLoans.

They use security measures, including secured data and computer safeguards, so you don't have to worry about someone misusing your information.

Backup option

Despite the rarity of this circumstance, there may be no suitable lender when you submit your application. For this reason, the PersonalLoans team makes and keeps a backup copy of your data.

Users of the platform can immediately transmit the backup copy to outside lenders if there isn't a suitable lender accessible. Therefore, finding the ideal lender for you is very likely. This platform stands out as one of the best lending platforms, thanks to its meticulous attention to detail.

Various types of loans

You might be qualified for different types of loans. For example:

  1. P2P lending: minimum credit score requirement of 600; minimum monthly income of $2,000.
  2. Individual loans: you must have a credit score of at least 580; a monthly income of at least $2,000.
  3. Bank individual loans: A 580 credit score is needed as a minimum; $3,000 minimum monthly income.

To be eligible for a loan, you must not have accounts more than 60 days past due and no active bankruptcies. Additionally, they will search for trends in past-due payments, existing debt, and debt to income ratios. Further, you must be at least 18 years old, have a checking account, and have a reliable source of income.

Click here to visit the official website of Personal Loans


  • Loans in installments of up to $35,000
  • P2P loans with terms of three to 72 months are offered
  • Requires low minimum credit score
  • Speedy application procedure
  • Quick approval funds
  • APR ranges from 5.99% to 35.99%


  • A $2,000 minimum monthly income requirement
  • No microloans; a minimum of $1,000
  • Not BBB accredited
  • Not recommended for customers with credit scores under 580

How We Made This List Of Online Payday Lenders For Installment Loans Online?


Online loans must be simple and quick, with bad credit or no credit. We have selected fast lending websites with rapid loan lenders to offer you in just a few minutes. Below are the lenders who would disburse your loan funds within 24 to 48 hours.

The drawn-out application and approval process shouldn't even exist when asking for a loan online because we live in the digital age.

Minimum and maximum loan amount

We searched for websites where you could obtain various loan amounts, and we have created this list with the finest websites for personal loans for those with bad credit.

We get that some borrowers only need a minimum loan to establish credit or a short-term budget. A considerable loan amount is something that some borrowers are also seeking from a lender. As a result, we mainly included websites that let you borrow between $200 and $35,000.

APRs, finance charges, or interest rates

Expect higher interest rates when dealing with bad credit, and improve your credit to receive better deals. It does not imply that lenders can arbitrarily charge you exorbitant rates.

Once you have established a solid repayment record, some of the websites on our list may be able to provide you with loans with an interest rate as low as 5.99%.

However, compared to what other loan lenders would provide, some would only have rates as high as 59.99%, which is still fair.

Friendly to bad credit borrowers

We don't want you to think you can't get a loan because you have bad credit. Therefore, we checked that these websites accept your loan requests and are ready to support you despite your poor credit score. We discovered websites that provide debt consolidation and credit repair loans to assist you further.

We chose several websites that just perform a mild credit check with the three major credit agencies because we know how significant a credit check may be.

FAQs On No Credit Check Installment Loans

Q1. When is it wise to take out an installment loan?

Here are two scenarios in which getting a personal installment loan may be wise:

Consolidating debt

Other unsecured debts, such as high-interest loans and credit cards with revolving credit, might be consolidated into a single, set monthly payment using an installment loan. Getting a debt consolidation loan is a sensible decision if the new interest rate is less than the loan's total interest.


An installment loan shouldn't be your first option because it might be pricey. Instead, take into account alternatives with low or no cost of interest. However, if you have a strategy for making your payments and require cash quickly, an installment loan may be able to help you.

Q2. How does an installment loan operate, and what is it?

Financial instruments known as installment loans allow you to borrow a set amount of money and repay it gradually over time. You often have the benefit of setting interest rates and regular monthly payments with these loans, which include personal loans. As a result, you always know how much you owe each month and when your last payment is due.

Consider taking out a $30,000 loan with a 10.99% APR and a 60-month repayment period. For five years, you would pay $652.12 each month. Nevertheless, these loans include auto loans, school loans, mortgages, and personal loans.

Q3. Which one is better: A payday loan or a personal installment loan?

The terms of an installment loan are always more favorable for the borrower than those of a payday loan. Payday loans online are often repaid in a single lump sum instead of personal loans, which are repaid over time in smaller monthly payments.

In addition to offering larger loans than payday loans, personal loans also charge lesser fees and interest rates. Online payday loans should only be used as a last choice in situations where you are experiencing a temporary cash need between paychecks.

Conclusion: Get Bad Credit Installment Loans Guaranteed Approval

Now that you discovered all the information you need, we hope you play safe and choose one of the brands from our list.

If you decide on one of the brands from our list but are still undecided about which one, then ask yourself these questions: How much do I need to borrow?; Do I need to get emails about other debt or similar products or is that a deal breaker for me?; Does my salary meet their eligibility requirements?; What type of installment loan do I need?

After answering all these questions, we hope it becomes clear which is your best choice. Good luck!

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