Our online installments loans are instant money directly deposited into your account, which you can repay back over a longer period of time. So naturally, you have some "What" and "How" to be asked about our installment loans. No worries, as you have landed on the right page of the site! We have answers to all your queries.
1. What is an installment loan?
It is an instant short-term loan arrangement that can be repaid with scheduled payments equally distributed over loan life.
2. What are the types of installment loans available in the market?
Installment loans have a lot of varieties with terms as little as a few months to as long as 30 years. Depends on the loan agreement terms and the lender.
3. What are the types of installment loans CashTodayExpress offers
We offer instant online installment loan. You can use the cash approved to help you keep up with bills, pay your rent, make a card payment, and unexpected costs.
4. How an installment loan differs from payday loans?
Though both the type of loans provides emergency cash there is a difference between the two in their fee structure and repayment terms. While a payday loan gets due on your next payday. An installment loan is paid back over a longer predetermined period of time.
5. How much am I allowed to borrow from CashTodayExpress?
Though the maximum loan amount depends on your credit eligibility, the extreme amount is limited to $1500.
6. How does an installment loan work?
Once your loan is approved your repayment terms gets fixed in the loan agreement. You pay a specific amount periodically which is usually bi-weekly or monthly.
7. Is security of the information we share is ensured?
We follow the latest technology of data encryption; to protect the information you share.
8. How do I proceed with the loan application?
Our Loan application is very easy and is completely online.
9. How loan it would take to credit the loan money?
We credit our loan as fast as possible. If the application is submitted with the business day, you can expect the funds within the same day.
10. Is it ok if I have a bad credit score?
We are never concerned with your credit score, rather we consider your earnings before approving your loan.
11. Will your credit checking hurt my credit score?
No not at all! We never carry out hard credit checks, though we make a soft pull on your borrowing history. But that will never hurt your ratings. In fact, even if you have an ongoing loan with us, you can simultaneously apply for a loan with another lender as well.
12. What are the essential requirements for the Loan?
We need the minimum qualification:-
- Be at least 18 years old with a valid id proof
- A steady source of income
- Open bank account
- A valid email address, phone number, and your social security number
13. What factors influence my loan approval?
We may evaluate you on your current income, your ability to repay the loan, your credit score, and if you have any outstanding short-term loans.
14. Do I need to put a collateral?
We do not need any collateral.
15. Will you accept a payback prior to the schedule and how will it affect me financially?
If you want you can surely return back the loan beforehand, no penalties or charges will be levied on you for that.
16. What happens if my payment is delayed?
The consequences depend on the state laws.
17. How can I pay the EMIs?
Payments can be made in two ways either you make a standing instruction of electronic fund transfer on the due date or you can provide us a money order or email us the cheque.
18. I am from the military. Can I get an online loan from you?
We are grateful to you for your selfless services towards the country, but presently we do not offer loans to military personals.
19. What is an Automatic Clearing House (ACH) transaction?
Automatic Clearing House Transaction (ACH) is the method by which funds can be deposited or withdrawn from an account. When you pay for your loan transaction with the check, you legally authorize us to process the payment with ACH transaction.
20. Do installment loans build credit?
Of Course, because with the money from these installment loans you can pay off debts, and unpaid dues, thereby clearing off the marks off your credit history.
21. What happens if you get an installment loan and don t pay it back?
The lender will make multiple attempts to withdraw money from your account. However, your bank might charge an overdraft fee every time your ender tries to withdraw money and your account shows insufficient funds.
22. Will your credit checking hurt my credit score?
No not at all! We never carry out hard credit checks, though we make a soft pull on your borrowing history. But that will never hurt your ratings. In fact, even if you have an ongoing loan with us, you can simultaneously apply for a loan with another lender as well.
23. If I Don't Pay My installment Loan Will I Go to Jail?
No, because federal law does not permit arrest warrant for unpaid debts.
24. Why installment loans are so expensive?
Installment loans being expensive is a myth. But these loans are unsecured loan so many lenders charge a bit of high interest.
25. I need an installment loan but getting refused?
I may be because you have a low credit score, you can try our services, we provide guaranteed approval on installment loans even on low credit.
26. How much is the non-sufficient funds (NSF) fee?
We charge a NSF fee of $20.
27. I have bad credit and need a loan but not a payday loan?
Installment loan is the right choice for you. Not only are they issued against bad credit, they have a low cost than payday loan.
28. What is the average cost of an installment loan?
We charge $30 for every $100 borrowed. Moreover depending upon the terms of the loan the APR may vary from 365.00% to 1564.28%.
1. What is a payday loan?
A short term loan that you can instantly receive, which must be paid back on your next pay date.
2. Do I need an excellent credit score to be able to be issued with a payday loan?
No. We do not consider your credit score as the sole factor to provide a loan. You can get a payday loan from us even if you have bad credit.
3. What can the payday loans offered by CashTodayExpress be used for?
We offer instant payday loans that can help you get through the month before your next salary arrives. You can also avail these loans for any other purpose such as an emergency.
4. Why are the APRs higher for a payday loan in comparison to a traditional loan?
That's because of the various benefits that these loans include such as no credit checks, instant approvals, quick transfers, no collaterals, etc. which regular loans do not.
5. What's the maximum amount of money I can receive through a payday loan?
Most direct lenders offer loans of a few hundred dollars. You can receive up to $1000 from us.