Apply for Installment Loans with Pheabs
Repay over 1 to 60 Months

Installment loans offer an effective way to spread repayment over 3,6,12 or even 60 months, repaid in equal monthly installments. From fast payment, bad credit or no credit check options, Pheabs can help you borrow $100 to $35,000, with funds available within 24 hours or next business day. Simply click on 'Get Started' below to start the process!

Representative Example:
On an assumed loan amount of $750 over 12 months. Rate of interest 292% (fixed). Representative 171%APR. Total repayment amount $1351.20 and total interest is $601.20. 12 monthly payment of $112.60.*

* We do not know how many customers take out a loan or the APR, this calculation is based on
the mean APR of the lenders we work with

Why Should I Use Pheabs for Installment Loans?

Pheabs can help find the best installment loans for you, working with reputable lenders across the US. We act as a loans connection service, so we can match your loan enquiry with the lender who is most likely to accept you and offer the best rates possible. 

Our entire application is completely online and we do not charge any fees for applying. Whether you are looking for installment loans for 3 months, 6 months or more – we can find the right option for you, with no obligation, no fees and no impact to your credit score!

How to Apply for Installment Loans

Our entire application is completely online and we do not charge any fees for applying. Whether you are looking for installment loans for 3 months, 6 months or more – we can find the right option for you, with no obligation, no fees and no impact to your credit score!

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Step 1 - Apply

Consider how much you need to borrow and how long for – and complete our online application form in less than 5 minutes.

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Step 2 - Get a Decision

Get an instant decision and receive a loan offer on the screen. To proceed, you can electronically sign our loan agreement in minutes.

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Step 3 - Receive Funds

If approved, you can receive funds into your checking account within hours, the same day or next business day.

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What is an Installment Loan?

An installment loan allows you to spread repayments over several months, or installments. This gives the customer the flexibility to repay over a longer period of time, so they can get their finances in order and not feel the pressure to pay the entire loan back immediately, like with a payday loan.

This type of product can be unsecured or secured (with collateral), depending on the loan amount, the duration and the customer’s credit rating.

Loans with installments can be just a few weeks, or several months – and Pheabs gives you the option to choose how long you would like to borrow money for, whether it is 9 months, 18 months, 36 months or the maximum of 60 months (5 years).

You always have the option to repay early if you would like, so if you find that after a couple of months or half way through the loan term that you would like to clear your account, you can certainly do so – and you will save money overall since less interest has accrued. 

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Does Pheabs Offer Installment Loans Near Me?

Yes, we can facilitate installment loans across the USA, so wherever you live, you can get the right product for you. We work with trusted lenders across the West Coast including California and Texas and the East Cost of Illinois and Florida – and everywhere in between. Your application will be connected to the lender who operates legally in your State, but we also work with national providers too – so you can get the best of both worlds.

You do not have to enter a store or visit a branch, since everything with Pheabs is handled online from start to finish. 

What Can Installment Loans Be Used For?

Installment loans can be used for everyday emergencies including car repairs, staying on top of credit card bills, paying off debts, home repairs, broken boilers, plumbing problems or for other family expenses.

This type of product can be used for any purpose, even to pay for weddings, funerals, holidays or purchase a new car.

This includes business purposes such as paying for your staff, buying inventory, paying a tax bill or to grow your company.

Can I Get an Installment Loan with Bad Credit?

Yes, Pheabs can offer installment loans for people with bad credit histories – and we work with a number of lenders who only serve customers with poor credit or no credit at all. 

Installment loans work perfectly for people with bad credit who may be trying to get their finances in order, since they can spread repayment over several months to maybe help pay off other debts and get back on their feet.

Whilst Pheabs offers unsecured options, you may find that you have to use collateral or security in order to borrow larger amounts if you have adverse credit – since this allows you to leverage the value of your item to borrow money, although you may risk losing this if you cannot keep up with repayments.

You may find that the interest rates charged for people with poor credit could be a little higher to reflect the risk of default. Plus, you may find that the amount you can borrow may be a little less and the duration a little longer to give you more breathing space. See also loans for bad credit.

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What is the Eligibility Criteria for Installment Loans?

The eligibility criteria for an installment loan will depend on various factors including your credit score and affordability, however, the basic criteria to apply is:

  • Be a US citizen.
  • Over 18 years of age
  • Have a live checking account to receive funds
  • A steady income of at least $800 per month
  • Able to afford monthly repayments
  • No recent bankruptcy
  • Valid cell phone and email address to verify your loan

Do You Offer Installment Loans with No Credit Checks?

If you are looking for installment loans without credit checks, it is possible if you apply for a secured loan or auto loan, since you will be leveraging the value of your property or vehicle to get access to funds. In this case, the value of your item is more important, since the lender uses this as security, and your credit score may be less important and there may not be credit checks involved. 

However, it is noted that most USA lenders will carry out credit checks before approving your loan. An installment lender will need to confirm that you can afford to repay your loan and taking out additional funds will not put you into greater financial difficulty. A quick credit check can see if you have lots of other outstanding loans or bad debts – and a lender may make a decision based on this.

How Do Repayments Work?

Your repayments are typically made in equal monthly installments, so you know exactly how much you will be repaying each month and that amount will not change. So if you are paying back $300 each month for a loan of 12 months, then it is a  pretty straightforward process.

You will always have the option to repay early if you want to, whether it is to clear your account in part or in-full and this can be a useful way if you are looking to save money on interest, since less interest will therefore be accruing overall. To repay early, simply call up or email your lender and or log into their online portal to make full payment.

If you miss any payments, you will be able to speak to the lender and maybe ask for an extension, however, late fees will usually apply and falling behind on repayments could negatively impact your credit score.

How to Apply for Installment Loans Online with Pheabs

You can apply for an installment loan online with Pheabs in less than 5 minutes. Our entire loan application is 100% online and requires some basic information including your name, age, residence, location, income, expenses, how much you would like to borrow and how long for.

You can apply 24 hours a day, 7 days a week, on desktop, laptop or mobile and you can get an instant decision on the screen with an indicative quote. Subject to further checks and approval, you can get money into your bank account within a few hours or the next business day.

To begin, simply click on the ‘Get Started’ button below.

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FAQs

With Pheabs, you can borrow $100 to $35,000 depending on various factors including your income, credit status, affordability and duration of the loan. 

You can borrow for 1 to 60 months and you can choose how long you would like to borrow for. Usually if you want to borrow larger amounts, this could be better to repay over 12, 24, 36, 48 or 60 months – to help you spread the repayment effectively. 

Yes, technically the longer you borrow for, the more interest you will be paying each day, week and month. So ideally, you should only borrow as much as you need to avoid overpaying for your loan. 

If your loan has been accepted and you have passed all further checks, you can receive funds in just a few hours or certainly by the next business day. If you are using a secured loan, this may require some further checks – so you could expect completion and funding to take up to 4 weeks.

Yes, you repayments will typically be made in the equal amounts on the same day each month, on  a date that you confirm with the lender. Most lenders will charge you the same amount each month, making it easy to budget, plan and remember how much you owe. There are some lenders who start the loan by repaying small amounts and then the repayments get larger, and visa versa, so always be sure to read the terms of your agreement before you proceed.

Yes, you will always have the option to repay early and there are usually no added fees for doing so. So if you find that your financial position has improved and you want to clear the account after just a few months, you can certainly do so and you may save money too, since less interest is adding up overall.