RixLoans Installment Loans – Loan-Connecting Services – All Credit Types Welcome
RixLoans’ online installment loans through our loan‐connecting services allow you to repay your loan in flexible installments over time, even for those with a bad credit score. This approach helps ensure your finances remain in order without the pressure of repaying a short‐term loan all at once, as is sometimes the case with payday loans.
The product may be offered as unsecured loans or secured, depending on the loan amount, duration, and your credit profile. Bad credit loans from our network of lenders can benefit those with a poor credit score.
Installment loans are available for a few weeks or months with varied repayment periods. RixLoans allows you to decide how long you’d prefer to borrow money, whether six months or more – such as twelve, twenty‐four, or even up to sixty months. However, be aware of the potential high‐interest rates that might apply to such loans.
How Do I Request an Installment Loan Through Our Loan-Connecting Services?
Before starting the loan request process, it is essential to research and compare different lenders and their terms to make an informed decision. Once you choose a suitable option from our network, follow their instructions and submit the required documents to request a personal installment loan.
RixLoans’ loan request process is entirely online, and there are no application fees. We can help you request a three‐month, six‐month, or longer installment loan with no fees and without affecting your credit score!
- Submit your loan request: Completing our online loan request form takes less than 5 minutes. You may need proof of income to show your ability to repay the loan.
- Receive feedback: See your loan options quickly on-screen. To begin, sign our loan agreement electronically. Offers may vary depending on your financial situation.
- Get Paid: If your loan request is approved by a lending partner, funds may be deposited into your account by the next business day.
In our commitment to serving customers across the United States, we proudly connect you with installment loan options in the following states. Whether you’re in need of financial assistance or looking for reliable installment loan options, our services are available to residents of these states. Please refer to the table below to find out if your state is among those where we can assist you with your financial needs.
| Alabama (AL) | Alaska (AK) | Arizona (AZ) |
| Arkansas (AR) | California (CA) | Colorado (CO) |
| Connecticut (CT) | Delaware (DE) | District Of Columbia (DC) |
| Florida (FL) | Georgia (GA) | Hawaii (HI) |
| Idaho (ID) | Illinois (IL) | Indiana (IN) |
| Iowa (IA) | Kansas (KS) | Kentucky (KY) |
| Louisiana (LA) | Maine (ME) | Maryland (MD) |
| Massachusetts (MA) | Michigan (MI) | Minnesota (MN) |
| Mississippi (MS) | Missouri (MO) | Montana (MT) |
| Nebraska (NE) | Nevada (NV) | New Hampshire (NH) |
| New Jersey (NJ) | New Mexico (NM) | New York (NY) |
| North Carolina (NC) | North Dakota (ND) | Ohio (OH) |
| Oklahoma (OK) | Oregon (OR) | Pennsylvania (PA) |
| Rhode Island (RI) | South Carolina (SC) | South Dakota (SD) |
| Tennessee (TN) | Texas (TX) | Utah (UT) |
| Vermont (VT) | Virginia (VA) | Washington (WA) |
| West Virginia (WV) | Wisconsin (WI) | Wyoming (WY) |
What Are The Examples of Installment Loans?
Auto Loans
Another example is a secured installment loan, such as a vehicle loan. You borrow against your vehicle and pay it back in monthly installments, with interest, over two to five years. If you miss a payment, the lending partner may repossess your car. Secured loans like these may require a stable monthly income and a viable source of income.
Personal Loans
Personal loans are versatile types of loans used for various purposes, such as a debt consolidation loan or emergency expenses. Loan amounts can range from small to large, and repayment periods may vary. Many loan providers offer personal loans, from traditional options like banks and credit unions to alternative lenders such as title loans companies and online lenders. It’s essential to compare offers and choose reputable lending partners to ensure the best terms and conditions.
Personal loans are revolving loans used for nearly any purpose. The maximum loan amounts range from $1,000 to $100,000, with repayment terms ranging from two to seven years.
Using information such as your consumer reports and credit history, regular income, other outstanding debts, and details from alternative providers, a lending partner determines if you qualify for a personal loan and at what rate. This information can affect the approval rate of your loan request.
Unsecured personal loans are more prevalent than secured personal loans. Still, some lending partners allow borrowers to utilize collateral such as a savings or investment account or a vehicle to qualify for low‐interest rates or competitive rates. This may also increase your access to funds compared to traditional banks.
Student Loans
Student loans are installment loans since they are repaid regularly over time. They can, however, have fixed or variable rates.
Do Our Lending Partners Perform Hard Credit Checks?
No, our loan‐connecting services are designed to help individuals with a range of credit profiles, including those with poor or fair credit scores. While traditional banks often perform a hard credit check when pre‐approving borrowers, our network of lending partners typically conducts a soft credit inquiry. This approach ensures that all credit types are welcome, though your credit profile may still influence the interest rates and terms of your loan request.
The lending partner will execute a soft credit inquiry when reviewing your loan request for “no credit check” loans. Credit scores play a role in whether or not you are approved for a loan. However, your credit score will influence the interest rates and costs charged by the loan. Our lending partners offer competitive interest rates and may have flexible credit requirements, making them a suitable choice for bad credit borrowers.
Can I Request an Installment Loan Through RixLoans If I Have Bad Credit?
Yes, our loan‐connecting services are available to individuals with various credit profiles, including those with bad credit. Therefore, if traditional lenders cannot approve your loan request due to credit challenges, you can contact us for assistance. We provide loan‐matching services that assist in connecting you with a suitable bad credit installment loan option.
Are there monthly payments on an installment loan?
Yes, installment loans arranged through our loan‐connecting services typically involve scheduled monthly payments, providing you with structured repayment terms. Once approved by a lending partner, funds may be transferred directly to your bank account, ensuring convenient access to the funds you need, even if you have a bad credit history.
With an installment loan, you make regular payments each month. Each payment covers a portion of the total amount borrowed. For example, let’s say you borrow $1,000. Your lending partner would calculate how much you owe using a simple formula called “principal plus interest.” Principal refers to the original amount you borrowed, and interest is calculated based on the duration of the loan. When calculating your monthly payment, the lending partner adds up the principal and interest owed and divides it by the number of months remaining until the loan is paid off.
By using our loan‐connecting services, you can gain quick access to a variety of loan types through a simple loan request process. This option is particularly helpful for people with a poor credit rating. Our lending partners may offer more favorable loan terms, flexible loan amounts, and may have lower minimum credit score requirements compared to traditional banks. Please note that approval decisions are made by the lending partners and may vary based on your financial profile, and applicants are required to provide proof of employment and other relevant documentation to secure loans with flexible repayment terms.
What Are Monthly Deductions From My Bank Account?
The interest rate and costs are included in the loan’s APR, representing the total cost of the loan over a year. It would help to choose lending partners with the lowest APRs to save money. This way, you can ensure you get the most favorable terms possible while keeping up with your monthly deductions from your bank account.
Payments made toward your loan are deducted directly from your active bank account. When processing your payment, your lending partner initiates a transaction that is then reflected on your bank statement. The payment clears immediately as long as you have sufficient funds. A bank statement can help you monitor these transactions.
Benefits of Installment Loans
Lenders Can Change Loan Terms at Any Time.
Depending on the bank, credit personal or auto title loans usually have a minimum term of 12 or 24 months. However, you can request a short-term installment loan online that you can repay in three months. Long-term installment loans with periods of up to 60 months are also available, offering flexible payment terms.
Online Lending Partners Aren’t as Strict as Traditional Lenders.
Our online lending partners recognize that their distinct advantage over banks is in their online application process and freedom to customers. Furthermore, they are not hampered by stringent lending laws. As a result, they make riskier loans. Lenders may consider factors such as employment status and financial stability when determining loan terms. Remember to make timely payments to maintain a positive relationship with your lender and to improve approval timelines in the future.
It’s Good for Quick Cash.
It’s critical for Unemployed People and Low-Income Borrowers to obtain finances quickly when a personal crisis strikes or when facing financial difficulty. The loan request process is streamlined, and if a lender approves your request, funds may be transferred to your bank account as early as the next business day. Please note that approval is not guaranteed. The process entails submitting a loan request via an online form, providing the necessary documentation, and signing the loan agreement electronically.
Technology Is Readily Available.
A reliable source like an online lending partner stays ahead of the curve by providing customers with various online tools and access to money. For example, obtaining a user portal after joining a lending partner is standard. Others offer a cash advance app that allows you to manage your account, view scheduled payments, and even make payments in the United States.
They Follow Regulations
Online lending partners don’t operate in the same way as dishonest lenders or loan sharks do. They follow federal lending regulations and norms, catering to the needs of funding for people.
They receive the necessary licenses before lending loans in any state. Most have also made their sites as user-friendly and safe as bank websites. As a result, customers will have a secure and pleasant borrowing experience.
Disadvantages of Installment Loans
They’re Quite Tempting.
You see something you want but don’t have the funds to buy it, such as new shoes. Because payday-installment loans are so simple and come with few restrictions, they offer simple access and are an option for people to request a loan and pay it off in three months, thus gaining some financial freedom.
Money Is Automatically Deducted From Your Account.
Borrowers must set up automatic payments with most online monetary institutions. Most online businesses choose to check accounts since they allow for automatic debits. Payments on auto loans aren’t all awful.
They can help you avoid the stress of failing to pay your loan on time and the cycle of debt that often follows. However, you’re at risk when you don’t have enough money in your account, jeopardizing your access to cash. If the lender tries to charge your account but the transaction fails, the bank may charge you $35 in NSF costs. It raises your expenses.
High APRs
You should only pursue online payday installment loans if you have no other options, especially for those with less-than-perfect credit. We recommend starting with lenders offering lower APRs and consulting major credit bureaus to determine loan eligibility. Remember, during financial emergencies, avoiding direct involvement with unreasonably high-interest rates that can jeopardize your long-term financial stability is essential.
Alternatives to Installment Loans
Peer-To-Peer Lending
This is a type of lending where people lend to each other. The average American offers peer-to-peer loans. They are rarely the result of a loan company’s efforts. A peer-to-peer loan is when you borrow money from your friends. Alternative strategies, such as peer-to-peer lending, can contribute to financial success.
Various platforms, for example, have made it easier to execute these loans by allowing parties to set up automatic repayments. You can even get a peer-to-peer loan from someone you’ve never met. These platforms offer a wide network of potential lenders, making it a more convenient option compared to traditional loans.
Credit Cards With No Annual Percentage Rate
These cards are interest-free for a set period to convert you into a paying customer. They often have a simple application process and offer soft credit checks, which can be an alternative to loans that require credit check installment loans.
Businesses use them to entice new customers. But be cautious when signing up for them. You never want to be late with a payment. The credit card company will charge you a penalty APR if you do. Make sure to factor in Social Security and other income sources to avoid late payments.
Consider Joining a Credit Union.
Credit unions are another lending option that can provide more convenient options for borrowing. As non-profit organizations, credit unions generally have lower fees and interest rates than banks, making them excellent alternatives to loans. They may even offer a service where funds can be available by the next business day for those needing quick financial assistance.
Credit unions bring people together who share a shared interest. They could be coworkers, residents of a particular neighborhood, or graduates of a specific university.
Members with weak credit make up certain credit unions. You’ll have access to the same goods that banks and online lenders like credit direct offer, including Loans For Borrowers Earning a wide range of incomes and covering various loan sizes. They provide instant and standard loans, from personal debts to business loans, allowing you to find the perfect loan solution. These services are cheaper, making them more accessible to those with less-than-perfect credit scores.
Boost Your Earnings
It’s both a short- and long-term plan, taking advantage of shorter payoff periods. You can, for example, work in the gig economy. Your new designation for furthering your study could lead to a promotion.
Seek Rental Aid or Financial Support.
There is no shame in asking for assistance. And you can get the help you need in a variety of places. For example, you can join the Housing Voucher Program to get money to pay your rent within a suitable loan amount range.
What if You Can’t Repay Your Installment Loan?
You won’t go to jail for not paying a civil debt. But there are consequences. You will be sold to collection agencies by the lender, affecting your chances of finding a perfect loan solution in the future.
There will be grim recovery procedures by collectors. Others come to your door and question you. Some businesses pursue criminal charges for fraudulent checks.
Can I get Loans with Guaranteed Approval?
None of us can be sure that a loan will be paid back. Although some lenders may advertise “Guaranteed Approval,” please note that approval is not guaranteed and depends on the lender’s evaluation. The chances of obtaining a cash advance online are much better because the lender may not check your credit history as strictly, making it easier for them to consider more applicants. Furthermore, with loan finders, borrowers can receive feedback on loan requests to potentially increase their chances of approval.
How Fast Will I Get My RixLoans Installment Loan?
It’s essential to complete the loan request form promptly and accurately to expedite the process. RixLoans works with various lending partners offering diverse loan options and giving borrowers more options to select the right lending entity for their needs.
For urgent situations, RixLoans strives to provide quick responses and rapid loan processing, ensuring that if approved, funds may be transferred to your account by the next business day.
You can submit a loan request online with RixLoans in less than 5 minutes. Our entire loan request process is 100% online and requires basic information, including your name, age, residence, location, income, expenses, how much you would like to borrow, and the desired loan term. We verify that you have sufficient income for the loan amount you wish to request and consider the eligibility criteria while processing your loan request.
You can submit a loan request 24 hours a day, seven days a week, on a desktop, laptop, or mobile. Subject to further checks and approval based on the Funding timeline, funds may be transferred to your bank account within a few hours or by the next business day.
What are the Eligibility Criteria for RixLoans Installment Loans?
- A steady income sufficient for the loan amount
- Able to afford monthly repayments
- Over 18 years of age
- No recent bankruptcy
- Have a live checking account to receive funds
- Valid cell phone and email address to verify your loan request
- Be a US citizen and meet the limits for people eligible for our loans
- Adhere to the Funding timeline provided by RixLoans for loan processing
Frequently Asked Questions
What is RixLoans, and how do their installment loans from lending partners with Instant Approval work?
RixLoans is an online lending marketplace connecting borrowers to lending partners offering personal installment loans. Loan terms, rates, and approval times vary by lender. Please note that Instant Approval does not guarantee that your loan request will be approved.
What are the typical interest rates and repayment terms for installment loans through RixLoans’ lending partners with Instant Approval?
Interest rates can range from 5% to 35% APR. Loan repayment terms are typically 3 to 36 months. Review all terms before accepting a loan offer.
What are the eligibility criteria for obtaining an installment loan through RixLoans with Instant Approval?
Basic criteria include being a U.S. resident, age 18+, having regular income, and a checking account. Approval is not guaranteed immediately for all applicants.
How quickly can I expect to receive funds in my account after being approved for an installment loan through RixLoans’ lending partners with Instant Approval?
If approved, funds may be sent to your account as soon as the next business day via ACH transfer. Timing varies by lender.
Are there any specific requirements or documentation I should have prepared when submitting a loan request for an installment loan with RixLoans for Instant Approval?
You’ll need a government ID, proof of income, contact info, Social Security number, and bank account details ready when starting the loan request process.
