Top 5 Online Best Installment Loans Bad Credit & No Credit Check in 2022

  • Tuesday, July 5, 2022 3:23pm
  • Blog

The average American has at least considered applying for installment loans or installment loans online at some point in their life. In fact, the statistics say it all. According to TransUnion credit bureau, personal loans in the last quarter of 2021 accounted for up to $167 billion in consumer debt. And that has simply increased since. Installment loans have become a way of making ends meet. They’re quick and easy to apply for and provide the ultimate convenience, especially when you need things done in a hurry.

While over-indebtedness is sometimes a contributing factor to being “cash strapped,” most Americans find that unexpected expenses, emergencies, and a lack of savings make them struggle to make ends meet from time to time. And that’s where online installment loans come in handy. By providing quick access to cash, with reasonable interest rates and easy-to-meet repayment schedules, installment loans have become the chosen form of financial helping-hand for most. This article seeks to investigate installment loans, provide an overview of our top 5 loan finders (editor’s pick), furnish interested borrowers with a list of qualifying criteria, and provide simple steps to apply for the best same day installment loans.

5 Best Installment Loans Online – Quick Overview

  1. Heart Paydays – Overall Best Installment Loan Broker
  2. Viva Payday Loans – Best For 60-Minute Payout Installment Loans
  3. Very Merry Loans – Best For Quick Installment Loans Over 24 Months
  4. Credit Clock – Best For Quick Online Payouts
  5. Money Lender Squad – Best For Same Day Installment Loans

Best Installment Loans With Bad Credit in 2022

There are several loan finder sites online that can assist you with finding the best direct lender installment loans. Find a brief overview of each below.

  1. Heart Payday Loans – Overall Best Installment Loan Broker


Heart Payday Loans is a same day installment loans finder offering quick and easy online loan applications. As a loan finder service, the company matches borrowers with lenders that are most likely to approve their loans. The entire system is automated, which means matching installment loans takes minutes. Borrowers can decide if they wish to accept the loan packages on offer or not. There are zero charges to the borrower for making use of the service.

What sets Heart Payday apart from other best installment loans finding services is that they process applications quickly, provide a fuss-free and simple online system, and put lenders and borrowers in direct contact with each other. The loan packages they present to borrowers range from $100 to $5,000 with repayment schedules of 2 to 24 months. While the lenders that Heart Payday Loans recommends can charge anything between 5.99% and 35.99% in interest, many of the lenders try to keep their interest rates low to remain competitive.

Heart Payday offers more than just traditional payday loans. They also help consumers get access to same day installment loans, tribal installment loans, unsecured installment loans, and secured installment loans. The online application process is quick – in fact, the form borrowers must complete will take only a few moments and the turnaround time on a loan outcome is as fast as 2 minutes. Of course, Heart Payday Loans provides information on pre-approved installment loans, but this doesn’t guarantee the applicant’s loan will be granted. Lenders may still need to do further checks and verify supporting documentation before the loan is officially approved and paid out.

Eligibility Requirements

  • 18 years minimum age limit

  • Income of at least $1,000 per month

  • Active bank account that accepts direct debit

  • Permanent residence in USA

  • Healthy income to debt ratio

  • Supporting documentation: proof of address, bank statements (3 months), pay slips (3 months), ID


  • 60-minute payout in most instances

  • 100% online application that takes just minutes

  • Interest rates can be as low as 5.99%


  • Interest could be as high as 35.99%

Click here to request funds Heart Paydays >

  1. Viva Payday Loans – Best for 60-Minute Payout Installment Loans


Viva Payday Loans is another loan finder site locating the best installment loans available online. As a loan finder, the site has earned itself a reputation for ensuring fast payouts on loans – as fast as just 60 minutes. In some instances, loans can take a bit longer to get approved and paid – such as 24 hours – but that’s not the norm. Installment loans that are secured through Viva Payday Loans come from some of the most reputable lenders in the market. The packages are already well-designed and the lenders offering them do what they can to negotiate terms with lenders that work for both parties.

Applying for online installment loans instant approval is a simple process. Borrowers simply click the “Apply” button and then complete a quick and easy application form with their particulars. As an applicant, you need to be fully prepared with your details and supporting documentation. Information you will need to provide includes your full name and surname, ID, proof of address (a utility bill is the norm), bank statements (latest 3), pay slips (latest 3), and a list of your monthly expenses. Once you’ve submitted your details, the online system will take just two minutes to produce an outcome. Of course, the finalization of the loan will depend on feedback from the actual lender, who may need to do further checks and request documentation before the pre approved installment loans are approved and paid out. Loans via the Viva Payday Loans site range from $100 to $5,000 with interest of up to 35.99%. Repayments range from 2 to 24 months making it easy to repay the monthly installments.

Eligibility Requirements

  • Proven affordability (by comparison of your income vs expenses).

  • Minimum age requirement of 18 years old.

  • Proof of US address (lease agreement or utility bill)

  • Proof of regular income (latest 3 pay slips and bank statements and minimum earnings of $1,000 per month).

  • Good income to debt ratio (to show affordability).

  • Your own valid and active bank account (for your payout as well as the debit for monthly installments)


  • Simple repayment terms

  • Access to direct lender installment loans – no middle man

  • 60-minute payout from approval


  • Credit checks may apply

Click here to request funds at Viva Payday Loans >

  1. Very Merry Loans – Best For Quick Installment Loans Online Over 24 Months


Very Merry Loans is a loan finder with a reputation for matching lenders and borrowers quickly. The entire focus of Very Merry Loans is to make finding installment loans near me quick, easy, and painless. Because of this focus, the lenders presented are transparent, offer quick turnarounds on approvals and payouts, and do whatever they can to ensure that the borrower is provided with a loan deal that suits their financial situation. Online installment loans organized through Very Merry Loans can be any amount from $100 to $2,000 with 2 to 12 months to pay. The interest rates offered on same day installment loans are determined by the lender, but range from 5.99% to 35.99%.

When applying for a loan through Very Merry Loans, there’s no need to worry about paying extra fees for a middle man. Guaranteed installment loans made available through Very Merry Loans are direct with the lender. This means that Very Merry Loans only acts as a matching service and the best news is that the service is absolutely free to borrowers. It’s convenient, too, because instead of having to apply for pre approved installment loans individually with each lender, you simply apply once and get presented with loan offers from lenders that can actually help you. This saves time and frustration. Very Merry Loans will leave you feeling merry when you note how quick the online application process is and how quickly each of the lenders commits themselves to paying out. All in all, Very Merry Loans is a great option when you find yourself searching the internet for installment loans near me.

Eligibility Criteria

  • Earn at least $250 per week (or $1,000 per month)
  • Be 18 or older

  • Have a valid and active bank account that supports direct deposit

  • Have a valid form of ID

  • Be a citizen of the US or a legal resident


  • Quick online loan matching

  • Apply just once instead of multiple times

  • Loans of $100 to $2,000 (low and affordable)


  • Possibly expensive interest (can go up to 35.99%)

Click here to request funds at Very Merry Loans >

  1. Credit Clock – Best For Quick Online Payouts


Credit Clock is another reputable loan finder service that offers a quick turnaround on loan applications. Credit Clock isn’t a middle man and doesn’t charge the borrower anything to locate the best installment loans and put them in direct contact with the lender. What’s interesting about Credit Clock is that their online application for installment loans is hassle-free. There’s no confusing industry jargon to deal with, and the process of applying is straightforward. You simply select how much you would like to borrow, and the loan repayment period you would like to get, including your name, email address, and postcode. The system will present you with some options when you hit the “Get Started” button. To take your application to the next level, you need to provide further information on yourself and your financial situation.

Online installment loans instant approval are provided to individuals who are in good financial standing and can actually afford the loan. You must earn the minimum amount per month as set in place by the lenders. Any supporting documentation required should be acquired and furnished to the lender as soon as possible. It takes a matter of moments to complete the Credit Clock installment loans application form online and just 2 minutes to get feedback on the outcome of your application. Loan amounts also range from $100 to $5,000 with 2 to 24 months to pay and with APRs ranging from 5.99% to 35.99%.

Eligibility Criteria

  • Only available to applicants 18 years and older

  • Must be a citizen or legal resident of USA

  • Minimum earnings set at $1,000 per month

  • Valid form of ID essential

  • Active bank account supporting direct deposit


  • Fast online approval (only 2 minutes)

  • Quick online application

  • All financial backgrounds welcome

Click here to request funds at Credit Clock >

  1. Money Lender Squad – Best For Same Day Installment Loans


Borrowers looking for same day payouts will find the Money Lender Squad loan finder service absolutely convenient. Options for several installment loans are presented to borrowers after they have input their details in the online application form just once. There’s no charge for the loan matching service, and you can rest assured that the lenders presented to you are reputable in the industry with transparent loan models in place. The norm with most US lenders is to offer loans with interest rates of between 5.99% and 35.99%. In addition, these installment loans online range from $100 to $5,000, depending on the lender you use.

Some lenders working through Money Lender Squad wish to remain competitive and provide reduced rates on their same day installment loans. Applying for a loan with Money Lender Squad will take just a few minutes of your time.

What’s great about these online installment loans is that they come with none of the red tape and hassles often associated with traditional bank loans. They also don’t keep you waiting around. Online installment loans typically pay out in 60 minutes.

Eligibility Criteria

  • Proof of address must be available

  • Minimum age requirement of 18 years

  • Regular income that amounts to at least $1,000 per month.

  • Active bank account

  • Citizen or permanent resident of USA


  • Quick payout

  • Easy terms to adhere to

  • Simple online application


  • Interest can get expensive – it can climb to 35.99%.

Click here to request funds at Money Lender Squad >

What Are Installment Loans & How Do They Work?

Installment loans are a great way to get the money or goods you need now and pay for them later. When paying off installment loans, interest is added, and this is then paid together with the outstanding loan amount in the form of scheduled monthly payments. Each installment is usually the same amount paid off over a set number of weeks, months, or years.

How to Apply for Installment Loans – Quick Steps

Step 1: Choose your loan amount

Log onto the loan finder site of your choice and input the requested loan amount. You will also be asked how long you want to pay it back over.

Step 2: Complete the application form

Look for the “Apply Now” or similar button on the website and hit it. Simply input your particulars such as name, address, ID, employment details, etc. Ensure that you gather any required documentation and have it handy when you make the initial application.

Step 3: Wait for a decision

Wait just a few minutes for the loan finder site’s automated system to provide feedback on your loan application outcome and present you with installment loans options.

Step 4: Get your loan

If you’re happy with the loan on offer, simply finalize the deal with the lender. Loans are typically paid out in 60 minutes or a max of 24 hours a push.

Features & Factors To Consider


It’s important to note that some lenders will impose penalties on borrowers who settle their loans early or late.

The decision is up to the lender

The loan finder site is only responsible for presenting the borrower with information. The loan finder cannot sway the outcome of the decision either way. At the end of the day, the loan company will make the decision.

How Did We Choose Installment Loan Providers?

Finding installment loans online is fairly simple. Of course, you need to sift through the many providers to find ones that offer rates and terms that suit your needs and financial situation. When compiling this guide, we were on the hunt for providers of installment loans that offer reasonable rates and transparency and have a reputation for quality service. Our focus was on finding US loan providers and linking them directly with borrowers looking for loans online. Below is a brief breakdown of what we looked for in providers of installment loans for them to make our top list:

  • 60-minute payouts or at least same-day payouts

  • Quick and easy online systems for applications

  • Loan approvals and rejections in a matter of minutes

  • Interest rates ranging from 5.99% to no higher than 35.99%

  • Providers of easy-to-apply for pre approved installment loans

  • Loan finders that link borrowers and lenders directly without charging the borrower

Advantages Of Unsecured Installment Loans

Less Stress With Pre-Approved Installment Loans

Sometimes it’s nice to know whether you stand a chance of getting a loan or not when you apply for one. The last thing you want to do is go through all the paperwork, only to find out that you don’t actually qualify for the loan in the first place. That’s what’s great about using loan-finder sites. These sites help you find pre-approved installment loans from the right providers. When you input your details just once, you’ll be notified within 2 minutes whether you are pre-approved or not. This doesn’t mean that you will definitely get the money you require but instead means you are eligible. You will be matched with a lender who will do further checks and determine if you are a suitable candidate for a loan.

If you have been hunting for online installment loans instant approval, you stand the best chance when using Money Lender Squad, Viva Payday Loans, Credit Clock, or Very Merry Loans. While these sites are not direct lenders themselves, they put borrowers in touch with lenders that prioritize quick disbursement of funds. For example, some offer 60-minute payments, whereas others provide same-day or next-business-day payments.

Quick Payouts

Many people have learned that one of the biggest perks of using loan-finding services is that the loans they end up with typically pay out on the same day they are approved. Unlike other financial institutions, providers of payday loans and installment loans don’t keep borrowers waiting around. Instead, they understand that sometimes money is needed right now, not later. So there’s no pacing, nail-biting, or wondering when the funds will hit your bank account. In most instances, lenders try to settle their payouts within an hour of approval, but most lenders aim for same-day or next business day payouts.

Loan Application Outcome In Just Two Minutes

When applying for installment loans online, the intention is to find out as quickly as possible if you can get a loan and how much. Loan matching sites that we have selected can put you in direct contact with lenders and will let you know within just two minutes of submitting your application if you’re eligible or not. Pre-approval installment loans don’t guarantee that the lender will agree in the end; it just means that according to the provided information, your application looks good. The final decision is in the lender’s hands.

Entire Application Process Online

Standing in queues, making long phone calls, and working with a loan agent face to face can be both inconvenient and uncomfortable. That’s why so many people enjoy being able to apply for a loan online. Nothing can compare to the convenience and time-saving of applying for installment loans online. You can skip the queues, phone calls, and face-to-face meetings when using a loan-finder service. Instead, you can revel in the quick and easy process of filling out the online application process, receiving pre-approval digitally, and opting to proceed or reject the loans on offer. In the next phase, the lender will deal with you online and even provide capabilities to sign your loan agreement online. What could be more convenient?

Top Alternatives To Installment Loans Online

P2P (Peer-to-Peer) Lending

Most people will agree that the best installment loans feature is the ability to get the cash needed at record-quick speed. It’s much the same with peer-to-peer lending, as the cash is typically made available quickly to borrowers. With this type of lending, the borrower is acquiring funds from private people and businesses instead of banks or financial institutions. Essentially, P2P lending cuts out the middleman (bank). While there are eligibility criteria in place, P2P lending tends to be less strict than bank loans.

Bank Loans

Bank loans are the most common alternative to installment loans and are generally best supported by those in good financial standing and with a good credit score. To apply for a bank loan, you will need a good credit score and prove that your earnings can comfortably cover your monthly expenses and the new loan installment. Bank loan interest rates are typically lower than installment loans found online, but the bank doesn’t offer the same convenience as same-day payout and will turn away bad credit borrowers.

Pawnshop Loans

For those with bad credit, no credit, or simply don’t want to get involved in a bank loan contract; pawnshop loans are an option. This type of loan works in contract to installment loans in that there’s an item of value offered up as collateral. In most instances, pawnshops accept electronic devices, jewelry, vehicles, equipment, and so on as valid forms of collateral. Once you have handed the item over, the pawnshop will assess the item’s value and offer only 25% and 50% of the value as a loan. If you fail to repay the amount loaned according to the agreement, the pawnshop is well within its right to sell the item to cover costs.

Secured Loans – Collateral Loans

Secured loans, aka collateral loans, offer some perks that make them great alternatives to installment loans. For starters, secured loans come with much less risk to the lender, so you may be able to acquire a higher loan amount, depending on what you put up as collateral. The interest will also be reasonable due to the lowered risk. That said, a secured loan comes at a risk to the borrower. If you default on the loan agreement, you could lose your asset or collateral as per the agreement you signed. Most secured loan providers accept vehicles, property, expensive equipment, art, and jewelry as suitable collateral.

Credit Union Membership Loans

If you belong to a credit union, you could benefit from reduced costs, low interest, and quick-payout loan options from the credit union itself. Credit unions are non-profit co-operatives where members pool their savings to assist other members in obtaining the credit they need. Earnings on the savings are given back to members in low-cost installment loans with lower interest and fees than the traditional bank.

Top Tips For Finding Installment Loans Online

When on the hunt for installment loans online, you’re bound to be presented with several seemingly viable options. If you’re not familiar with the loans world, you may find it overwhelming trying to determine which lender is right for you. To help you make the best installment loans choice for you, consider the following top tips:

Do Comparisons With Loan Comparison Sites

Loan comparison sites are designed to help borrowers find the best possible installment loans online. Simply input your loan requirements, and the system will automatically present you with possible loan options to consider. These will be presented so that you can compare one loan product with another quite easily. Once you’ve decided which loan best suits your needs, select it as your option, and you will be forwarded to the lender’s site to complete the process.

Take Advantage Of A Free Loan-Finder Service

Loan-finder services online, such as those offered by Very Merry Loans, Money Lender Squad, Credit Clock, and Viva Payday Loans, can simplify the entire loan shopping process for you. With these sites, you complete just one loan application form that takes just a few minutes. Once you have applied, you will be almost immediately advised whether you are pre-approved or not. If you are pre-approved, the information you have provided positions you as a suitable candidate for a successful loan application. The final decision is, of course, the lenders’. Simply select the loan offer that best suits your needs, and you will be transferred to the lender to finalize the deal and set everything in motion. While this service is convenient and can help you save time and money, it’s free.

Investigate Interest Rates

While each state has interest rates set in place, lenders can and often do reduce their interest rates in a bid to remain competitive. That’s why it’s important to shop around for lenders offering the best possible interest rates on installment loans before you sign up. This is where loan-finder and loan matching sites truly shine. By being able to compare your options, you can investigate where the lowest interest rates and fees are on offer.

Respect Agreed Repayment Periods

While borrowers are often in a hurry to get the cash they need, it’s not uncommon to overlook the actual terms of the installment loans agreement. It’s imperative to read carefully through the loan contract and know precisely what the repayment schedule will look like. When making use of the reviewed loan-finder sites above, you will find that the majority of lenders provide loan terms of 2 to 24 months (some offer 2 to 12 months). Of course, each lender has their own set of terms and will discuss these with you before signing and accepting the loan agreement.

Things To Avoid When Getting Installment Loans

There are several things that you should avoid when seeking (and getting) approval for installment loans. Below are a few things to consider regarding installment loans online.

Late & Skipped Payments

When applying for installment loans online, keep in mind that lenders will require you to hold up your end of the loan contract. That means paying your loan installments in full and on time every time. You run the risk of tarnishing your credit score if you skip on payments or consistently pay late. In addition to that, if you miss payments, you may be faced with late payment penalties. Some lenders also penalize borrowers for paying off their loan early, so make sure that you’re aware of the loan terms before you sign the contract.

Not Reading & Understanding The Loan Terms & Conditions

When you’re approved for installment loans, you are getting into a contract with the lender. If you do so without understanding the terms and conditions of the loan, you may find yourself feeling overwhelmed when things don’t go according to your preconceived plan. When setting up your loan contract with the lender, it is important to carefully read through the loan contract and ask questions to ensure you fully understand the agreement.

Ask questions and get a thorough understanding of your responsibilities and what to expect before signing the loan agreement.


Applying for installment loans online has become easier over time. While there are many providers of online installment loans available across the US, it is important to select a lender or loan finding service that provides packages that cater to your specific needs and financial situation. Heart Payday Loans provides the best overall installment loans for you to choose from. Complete their quick and easy online application form and get the cash paid into your account today.


Are Installment Loans A Good Idea?

For many, installment loans can help improve your credit score, making it a great option. In addition, such a loan is great for rebuilding credit – this is done by paying your installments on time every time.

Do You Need Collateral For Installment Loans?

Installment loans can be secured or unsecured. If the loan is secured, you will need to put up collateral. If the installment loans are unsecured, there’s no need to put up collateral.

Is A Personal Loan An Installment Loan?

Yes, personal loans are indeed installment loans. With both personal loans and installment loans, you are provided with a lump sum that you are then required to pay back over a set number of years or months. There are several types of personal loans, including installment loans, available on the market. Popular ones include mortgages and personal loans.

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