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Installment Loans

Applying for an online installment loan should be quick, seamless, and easy — and so should your repayment process.

What is an installment loan?

In a nutshell, an installment loan is a type of personal loan that borrowers typically pay off in equal monthly installments until the debt has been repaid in full. That means the borrower pays the same amount of money each month on a predetermined date.

There are many types of installment loans out there. Certain auto loans or home loans take the form of installment loans. You can also take out a personal installment loan to cover emergencies, medical bills, debt consolidation, or large purchases. Regardless of the reason for needing an installment loan, as long as you make your payments on time, your repayment schedule can be completely predictable.

How do I apply for an installment loan?

Here’s how you can apply for an unsecured installment loan with us:

Apply Online

Fill out our fast and easy online loan application.

Verify Income

Securely connect your bank account.

Review Agreement

Review and accept the repayment terms for your potential loan.


Our online loan process is fast. If approved, you may receive your funds as soon as the next business day!1

Comparing installment loan options

Not all loan products are created equal. There are many types of loans out there in the marketplace, and it’s important to know how their payment schedules, interest rates, and other loan terms will work for you and your wallet.

Finding the best personal installment loan doesn’t have to be hard. Below are a few considerations to help you land on the right financial solution for you.

  • Accessibility: Is there an online lender that offers personal installment loans, or do you have to visit the financial institution in person?
  • Type of loan: Does the financial institution offer unsecured or secured loans? Does the loan offer require collateral, such as an automobile or piece of property to secure it?
  • Repayment terms: Is the repayment schedule predictable? Or are you going to be surprised with higher interest rates, prepayment fees, or balloon payments?
  • Annual percentage rate (APR): How much in total are you paying for the loan from start to finish?
  • Credit building opportunities: Does your loan provide credit-building opportunities? Make sure your on-time payments are reported to the credit bureaus to help boost your credit score.


Are installment loans good?

There are many benefits to certain types of installment loans. With the right lender, and as long as you make your monthly payments on time, your loan agreement should be straightforward. As long as you avoid late payments, your monthly bill should consist of equal, recurring amounts. Consistent on-time payments on an online loan could help you build credit history!

Can I get an installment loan with bad credit?

OppLoans does not use FICO scores during the loan approval process. Instead, we take other factors into consideration — such as employment or income status, good standing with other lenders, and on-time payment history — before making a loan offer.2

Where can I get an installment loan without a credit check?

OppLoans does not request the standard credit reports from the three major credit bureaus. Instead, we partner with a credit bureau that doesn’t use credit scores and won’t ding your FICO score when providing us with your credit history.2

Are there online installment loans?

Yes! OppLoans’ personal installment loan process makes its entire application process available online. There is no need to visit your credit union or a financial institution to apply.

How much money can I qualify for with an installment loan?

Depending on your state and your income, you may qualify for a loan between $500 and $4,000. The loan amount for which you qualify will depend on your state of residence, your income and ability to repay, and your creditworthiness.5

For more information about the product options and lender(s) in your state, please visit our Rates and Terms page.

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California Disclosures and Privacy Policy | California Consumers can opt-out of the sale of personal information by clicking Do Not Sell My Personal Information.

Applications submitted on this website may be originated by one of several lenders, including: Opportunity Financial LLC, a licensed lender in certain states; or one of our lending partners. All loans originated by our lending partners will be serviced by OppLoans.

NV Residents: The use of high-interest loans services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

1Subject to credit approval and verification. Actual approved loan amount and terms are dependent on standard underwriting guidelines and credit policies. Funds are typically deposited via ACH for delivery for next business day if verification is completed and final approval occurs before 8:00 PM CT, Monday-Friday. Availability of the funds is dependent on how quickly your bank processes the transaction.

2OppLoans may use credit report information provided by Clarity Services and Experian as part of the application process to determine your creditworthiness. Neither credit inquiry will appear as a hard credit inquiry on your Experian credit report and therefore they will not affect your FICO score.

4Installment loan amounts typically range from $500 to $4,000. APR ranges from 59% to 160%. Installment loan lengths range from 9 to 18 months. Example: A $2,000 installment loan repayable in 9 monthly payments would have an APR of 160% and monthly payments of $394.58 Rates and terms vary by state. This is an expensive form of credit and you should determine whether our product(s) meets your financial needs.

5According to the Consumer Federation America, a non-profit consumer advocacy group, payday loans range in size from $100 to $1,000, depending on state legal maximums, and carry an average annual percentage rate (APR) of 400%. The maximum APR for a loan offered through and serviced by OppLoans is 160% and loan sizes range from $500 to $4,000.


To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

If you have questions or concerns, please contact the Opportunity Financial Customer Support Team by phone at (800) 990-9130, Monday – Friday, 7 a.m. – 11:30 p.m. and Saturday and Sunday between 9 a.m. – 5:00 p.m. Central Time, or by sending an email to

California Residents, view the California Disclosures and Privacy Policy for info on what we collect about you.