Installment Loans in Alabama from $2000 to $2600. Poor Credit Ok!

Installment Loans in Alabama

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Online Installment Loans in Alabama

When you’re short on cash and need it fast, we’re here to help with MoneyKey Installment Loans in Alabama. An Installment Loan is a short-term loan with payments that are spread out over time.

We not only offer a secure web platform to apply for an Alabama Installment Loan, but we also have a fully-staffed, friendly and knowledgeable Customer Care team available 7 days a week to answer any loan-related questions you may have. If you’re approved, we’ll deposit the money in your bank account as early as the next business day*.

Summary

Loan Amount: $2,000 to $2,600

Loan Type: Installment Loan

Loan Term: ~18 months

Funding: 1 business day*

Pre-payment Available: Yes

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How It Works

1. Submit Your Application

2. Get Approved♦︎

3. Get Money The Next Business Day*


Loan Details

Loan Amount

For an Alabama Installment Loan, you can borrow between $2,000 and $2,600. Complete our application and we’ll quickly let you know if you’re approved and how much you may qualify for.

Cost of Loan

Interest will be charged on your MoneyKey Alabama Installment Loan, with a maximum Annual Percentage Rate (APR) of 220%. Your APR is dependent on your exact payment schedule, which is available in your loan agreement. See the below examples for common MoneyKey Installment Loans in Alabama and their corresponding APRs.

This loan is an expensive form of credit and is not intended to meet long-term financial needs. MoneyKey urges you to use this product responsibly.

Term of Loan

The Alabama Installment Loan term is approximately 18 months, so if you receive your income bi-weekly, semi-monthly or weekly, your loan will be payable in 36 installments. If you receive your income monthly, your loan will be payable in 18 installments.

Here are some examples:

In this example, the APR is 218.39% for a loan of $2,000, payable in 36 bi-weekly installments, with an effective date of 06/16/2017.

 Annual Percentage RateFinance ChargeAmount FinancedTotal of Payments
 
The cost of your credit as a yearly rate

218.39%

The dollar amount the credit will cost you

$4,399.08

The amount of credit provided to you on your behalf

$2,000.00

The amount you will have paid after you have made all payments as scheduled

$6,399.08

Payment Schedule

Payment DatePayment Amount
06/30/2017$177.74
07/14/2017$177.74

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In this example, the APR is 218.96% for a loan of $2,000, payable in 18 monthly installments, with an effective date of 07/12/2017.

 Annual Percentage RateFinance ChargeAmount FinancedTotal of Payments
 
The cost of your credit as a yearly rate

218.96%

The dollar amount the credit will cost you

$4,599.03

The amount of credit provided to you on your behalf

$2,000.00

The amount you will have paid after you have made all payments as scheduled

$6,599.03

Payment Schedule

Payment DatePayment Amount
08/03/2017$366.58
09/01/2017$366.58

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State License

MoneyKey is a state-licensed direct lender in Alabama. Loans are funded by MoneyKey – AL, Inc. and governed by all applicable laws.

Click below to view the Alabama license.

Alabama state license
 

Online Installment Loans in Alabama: Frequently Asked Questions

To qualify for a MoneyKey Installment Loan in Alabama, you must:

  • Be at least 19 years old
  • Be a US citizen or a permanent resident
  • Be a resident of Alabama
  • Have an active bank account
  • Have a regular source of income
  • Have a valid contact number and an active email address

Please note that we currently do not offer credit products with rates that allow us to lend to covered members of the US armed forces and their dependents.

No, this is not a payday loan. A payday loan is a short-term loan where you are typically required to pay back the loan in full on your next payday. This is an installment loan, which is different because unlike a payday loan, no lump-sum payment is required. With an installment loan, you pay back the loan in installments over time until it is paid off.
If approved, we’ll typically deposit the money in your account the next business day*.
Definitely. Paying off your loan early may reduce the overall interest charges you’ll pay and there’s no penalty to do so. If you’d like to make an early payment, or a larger payment to pay down more of your principal, please call us at 1-866-255-1668 or email customercare@moneykey.com.
You have to live in Alabama to get an online Alabama Installment Loan. Whether you live in cities like Birmingham or Montgomery, or in a smaller town like Scottsboro, we make applying for online Installment Loans in Alabama easy.

If you live in another state, please check our rates page to see if other online loans such as Installment Loans, Payday Loans or Lines of Credit are available in the state that you currently live in.

Have more questions? Please refer to our general FAQ page or contact our Customer Care team at 1-866-255-1668.

We’ve helped over 200,000 customers.Let us help you!

Not all applications are approved; duration of approval process may vary.

* If your loan is approved before 9:00 PM ET from Monday through Thursday, or before 7:00 PM ET Sunday, the funds will typically be deposited into your bank account the next business day, otherwise, your funds will be deposited into your bank account in two (2) business days. The date and time funds are made available to you are subject to your bank's policies.

Disclaimers: Product availability varies by state. To see loan products offered in your state of residence, please visit our Rates and Terms page. MoneyKey – OH, Inc. is licensed as a Credit Services Organization (CSO) by the Ohio Department of Financial Institutions, Department of Commerce: CS.900134.000.  MoneyKey – TX, Inc. is licensed as a Credit Access Business (CAB), License No. 16641-62815, by the Office of the Consumer Credit Commissioner and registered as a Credit Services Organization (CSO), Registration No. 20110150, by the State of Texas. All loans for which MoneyKey acts as a CSO and/or CAB are funded by an unaffiliated third-party lender and serviced by MoneyKey.

In the State of California, MoneyKey – CA, Inc. is licensed by the Department of Business Oversight pursuant to California Finance Lenders Law License No. 60DBO43590 and California Deferred Deposit Transaction Law License No.1004516.

Reviews and any ratings referenced are based on TrustPilot reviews. Images are for illustrative purposes only. Reviews reflect individuals’ opinions and may not be illustrative of all individual experiences with MoneyKey.

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