📅 Installment Loans —
Installment Loans —
Fixed Payments, Bad Credit OK
Installment loans give you a fixed monthly payment and a clear payoff date — no lump sum, no surprises. Bad credit OK from 500. Apply free in 2 minutes — same-day deposit available.
Apply Now — Get an Installment Loan →
✓ Fixed monthly payments · ✓ Bad credit OK · ✓ Same-day deposit · ✓ No hard pull
Last updated: · Reviewed by Money247 Editorial Team
An installment loan is the responsible alternative to payday loans — same fast cash, no lump-sum trap. You receive a fixed amount deposited to your bank account and repay in equal monthly installments over 12 to 60 months. The rate is fixed. The payment never changes. You know exactly when the loan is paid off from day one. Money247.com connects you with 300+ installment lenders accepting bad credit from 500.
Installment Loan vs Payday Loan — Why Installment Wins
✓ Installment Loan
Fixed monthly payments
12 to 60 month term
29% to 36% APR
Clear payoff date
Builds credit score
Same-day funding
No rollover trap
✗ Payday Loan
Full lump sum in 2 weeks
2-week term only
300% to 400% APR
No defined payoff date
Does not build credit
Same-day funding
Rollover cycle trap
How Installment Loans Work
1
Apply Free — 2 Minutes
One short application. Soft check only — zero score impact. 300+ installment lenders receive your application simultaneously.
2
Choose Your Loan Amount and Term
Select the amount you need and the repayment term that fits your budget — 12, 24, 36, 48, or 60 months. Longer terms mean lower monthly payments.
3
Lump Sum Deposited Same Day
Accept your best offer and e-sign. Same-day deposit if applied before 2 PM weekday. Full loan amount deposited to your account immediately.
4
Same Fixed Payment Every Month
Identical payment every month for the life of the loan. No surprises. No variable rates. Reports to all 3 credit bureaus — builds your score monthly.
Installment Loan Monthly Payments — Quick Reference
Estimated payments at 36% APR — typical bad credit rate.
$1,000~$100/mo~$57/mo~$44/mo
$2,500~$249/mo~$141/mo~$110/mo
$5,000~$497/mo~$282/mo~$220/mo
$10,000~$993/mo~$564/mo~$440/mo
What You Can Use an Installment Loan For
💳
Debt Consolidation — Replace Multiple Payments
✓ One installment replaces many minimums
🏥
Medical Bills
✓ Cover healthcare costs in fixed installments
🚗
Car Repair or Purchase
✓ Same-day funding — back on the road
🏠
Home Repair and Improvement
✓ Any home project — no equity needed
🚨
Emergency Expenses
✓ Any urgent need — fixed repayment plan
Key Facts — Installment Loans
FixedMonthly payment — never changes
500+Minimum credit score accepted
Same DayDeposit — apply before 2 PM weekday
12–60Month repayment terms available
Best Installment Loan Lenders —
⭐ #1 Best Installment Loan — Money247 Network
Money247 — 300+ Installment Lenders
Best OverallFixed Payments
500+Min Score
$50KMax Loan
Same DayDeposit
Why it's #1: One application reaches 300+ installment lenders simultaneously — all offering fixed monthly payments over 12 to 60 months. Bad credit from 500. Income-only with no minimum score. Soft check only. Same-day deposit. Reports to all 3 bureaus to build your credit score with every on-time payment.
Fixed monthly payments
12 to 60 month terms
Bad credit from 500
Income-only — no min score
Same-day deposit
Builds credit monthly
Soft check only
All 50 states served
Apply Now — Get an Installment Loan →
🥈 #2 Best — No Score, Income-Only Installment
Income-Only Installment — No Min Score
No Min ScoreBank Deposits
NoneMin Score
$5KMax Loan
FixedPayments
Why it's #2: Income-only installment loans for borrowers with no minimum credit score. Fixed monthly payments — same as a standard installment loan but approved entirely on bank deposit history. No credit check. Builds payment history and score with every on-time monthly payment.
No credit score required
Fixed monthly installments
Bank deposits as income proof
Builds credit score monthly
Apply — No Score Installment Loan →
Frequently Asked Questions
What is an installment loan?+
An installment loan is a fixed-amount loan repaid in equal monthly payments over a set term — typically 12 to 60 months. Each payment covers principal and interest at a fixed rate that never changes. Money247.com offers installment loans from $500 to $50,000 with bad credit accepted from 500 and income-only options with no minimum score.
How is an installment loan different from a payday loan?+
An installment loan has fixed monthly payments over 12 to 60 months at 29% to 36% APR. A payday loan requires full repayment in 2 weeks at 300% to 400% APR. Installment loans are 5 to 10 times cheaper in total cost and never trap borrowers in rollover cycles that compound fees weekly.
Can I get an installment loan with bad credit?+
Yes. Money247.com connects bad credit borrowers with 300+ lenders offering installment loans with scores as low as 500. Income-only options with no minimum score also available. Apply free — soft check only, zero score impact, same-day deposit available.
Will applying affect my credit score?+
No. Checking your rate at Money247.com uses only a soft credit inquiry which does NOT affect your credit score.
Get an Installment Loan — Apply Free Now
Fixed monthly payments. Bad credit OK. Same-day deposit. No hard pull. 300+ lenders. Builds your credit score every month. Apply free in 2 minutes.
Apply Free — Get an Installment Loan →
Related Loan Options
Disclaimer: Money247.com is a loan matching service, not a direct lender. Loan approval is not guaranteed. Rates and terms vary by lender.
Fixed Payments. No Surprises.
Get an Installment Loan Today
Bad credit OK. No hard pull. Same-day deposit. Fixed monthly payments. Builds your credit score. Apply free in 2 minutes right now.
Apply Now — Get an Installment Loan →
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