California Installment Loans Online

While traditional California payday loans are great for very small unexpected expenses, you may find yourself in need of a larger loan. Paying for a major auto repair, consolidating bills or managing multiple unexpected expenses may require a larger loan amount. In such situations, a small dollar payday loan may not be enough to help you meet your financial objectives. This is when it may be time to look into a larger loan option like a Personal Loan or an Online Installment Loan. Online Installment Loans made pursuant to the California Finance Lenders Law (“California Installment Loans”), allow eligible California residents - who may not qualify for a traditional bank loan – to access larger credit amounts.

An Online Installment Loan in California has a higher maximum loan amount and a longer repayment schedule than a smaller dollar payday loan. MoneyKey does not offer Online Installment Loans in California at this time.

How California Installment Loans Work

Once a state licensed online lender has approved your application for an Online California Installment Loan, your loan will usually be deposited into your bank account within a few business days.

The minimum loan amount offered by most state licensed lenders in California is $2,500.

California Installment Loans Online are typically paid back through a series of payments over an 18 to 24-month period.

Most Online Direct Lenders will set each installment payment amount to include principal and fees, scheduled as a series of reoccurring payments over the term of the loan.

To allow for flexibility within the 18 to 24-month period, many direct lenders will allow you to make partial payments or to pay the loan in full, ahead of schedule, with no penalty. This option allows you to reduce the total amount of interest and/or fees payable on the loan.

Am I eligible to apply for a California Installment Loan Online?

Most direct lenders that offer California Installment Loans require you to meet their minimum eligibility criteria in order to apply for a loan. These requirements will vary by lender, but some of the most common minimum requirements are that an applicant must:

  • Be 18 years of age or older
  • Be a US citizen or Permanent Resident
  • Be a resident in the State of California
  • Have an active bank account
  • Have a regular source of income
  • Have a valid contact number and an active email address

Does a California Installment Loan Help Build My Credit?

Some lenders may perform a traditional credit check to determine whether or not you qualify for an Installment Loan. Where a traditional credit check is completed and the lender has approved your application for an installment loan, the lender may report your payment history to a credit bureau.

This means that borrowing and successfully repaying a California Installment Loan with some lenders will help establish, maintain and rebuild your credit status if the loan is paid back according to the payment schedule or earlier. Having a positive payment history by paying back your California Installment Loan on time may assist in improving your overall credit score which may enable you to secure a mortgage or car loan. Check with your lender to see if they are reporting to a credit bureau.

Does MoneyKey provide California Installment Loans Online?

MoneyKey is not yet offering online installment loans to residents of California. Please check back and visit our Rates and Terms page regularly at for updates on when we will be offering the California Installment Loan Online.

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