Online Installment Loans

Paying for unexpected expenses while managing your monthly bills can be a challenge. If you're looking for a short-term solution, then an online installment loan from a direct lender may be a helpful option if you need a loan with a long repayment term. Installment loans can vary in amount and are repaid over a period of time through a number of scheduled payments.

Installment loans you can rely on!

Get money in 1 business day

If approved, you may receive your money as early as the next business day.

No early payment fee

Pay your installment loan partially or fully at any time with absolutely no prepayment penalty.

Friendly customer support

Have questions? Speak to our friendly Customer Care agents who are available 7 days a week.

Get money when you need it!

Easy, quick & secure online loans

Ready to Apply?

We understand that a financial emergency can strike at any time. You can apply for an Installment Loan online or over the phone even if you have bad credit or no credit at all. Once your application is verified and approved, you’ll receive your money as early as the next business day.


  • Be 18 years of age or older
  • Be a US citizen or Permanent Resident
  • Be a resident in a state where the Installment Loan is offered
  • Have an active bank account
  • Have a regular source of income
  • Have a valid contact number and an active email address

Apply Online

Apply for an installment Loan online and receive your money as early as the next business day.


Speak to an Agent

Rather apply over the phone? Call us at 1-866-255-1668 and one of our agents will be happy to help you.


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Examples of Installment Loans

Some of the most common loans that people take out are installment loans. The following are some examples of the more popular types of personal installment loans.


Auto Loans

Auto loans are loans taken out when purchasing a vehicle, such as a car, motorcycle, or truck. These loans are typically paid off in a series of regular payments. Auto loans are secured loans, which means they require the borrower to offer a valuable item to serve as collateral. Many auto installment loans have a repayment term between 36 months and 60 months (3-5 years) long. Although a longer term usually means that each payment is lower, longer terms typically come with a higher interest rate. As a result, you may actually end up paying significantly more for your vehicle with a long-term auto loan.


Personal Loans

Personal loans may be one of the best options for obtaining quick cash to help cover an emergency expense. Compared to credit cards, personal loan rates may have lower interest rates that do not fluctuate over time. Personal loans often have repayment terms between 12 and 96 months (1-8 years) long. Unlike secured loans, such as auto loans, personal loans usually do not require the borrower to offer collateral; however, the interest rates applied to personal loans are typically higher than other types of installment loans.



A mortgage is a common type of homeowner loan. When financing a home, you will likely make monthly payments until the full balance is paid off. The payments typically cover the cost of the loan’s principal balance, as well as the interest and taxes. Because the principal tends to be high, the repayment term is one of the longer-term installment loans. Mortgages are usually repaid over a 15 to 30-year term.


Payday Loans

Payday loans, like installment loans, are short-term, high-cost loans that often have a principal balance of less than $1,000. Unlike installment loans, instead of paying off the principal balance over several months or years, payday loans are typically paid off within one month (on the borrower’s next payday). Like installment loans, payday loans are helpful if you are experiencing an emergency bill or payment that must be paid within a few days or weeks. Direct lenders can provide funds for your payday loan usually within an extremely short amount of time – often within 1 or 2 business days!


Online Installment Loans - Frequently Asked Questions

General Inquiries

What are installment loans?

An installment loan is a loan that is repayable through multiple scheduled payments, with due dates that generally land on your pay dates. There are multiple sources for getting an installment loan, direct lenders being one of the more popular and reliable options.

What is the difference between long-term installment loans and short-term installment loans?

Depending on the loan amount and repayment term, installment loans can be categorized into long-term or short-term installment loans. Loans that can be paid off within a few months or years are generally referred to as short-term. These loans can be used to pay for emergency expenses like medical bills, home maintenance etc. Long-term installment loans, such as mortgages, are generally paid in 20 to 30 years depending on the loan amount and the repayment term. Unlike most short-term installment loans, long-terms loans are usually secured and requires you to pledge a collateral.

What is the difference between an installment loan and a payday loan?

While both types of loans provide you with the money you need, the main difference between an installment loan and a Payday Loan is the loan term and fee structure. A payday loan is usually due in full on your next pay date, whereas an installment loan is repaid through a series of scheduled payments that are typically set up to land on your pay dates.

What does installment loans direct lenders mean?

Installment loans direct lenders are loan providers that issue loans directly to the borrower without any intermediary service or broker.

Is MoneyKey an installment loan direct lender?

MoneyKey is a state licensed installment loan direct lender in many of the states it operates in such as Alabama, California, Delaware, Illinois, Mississippi, New Mexico, Utah and Wisconsin. However, in Ohio and Texas, MoneyKey is a credit services organization (CSO) and credit access business (CAB), respectively. In these states, the loans are funded by third-party lenders and are arranged and serviced by MoneyKey.

Why is working with installment loan direct lenders the right option for me?

Working with direct lenders for installment loans such as MoneyKey is recommended because it provides you with a single point of contact and better protects your personal and financial information. When you are working with non-direct lenders or non-licensed service providers, your information may be passed to multiple potential lenders who may or may not extend a loan to you.

Application Inquiries

What states offer online installment loans?

As an Installment Loan direct lender or credit services provider, MoneyKey offers or arranges Loans in: Alabama, California, Delaware, Illinois, Mississippi, New Mexico, Ohio, Texas, and Utah. MoneyKey also offers Line of Credit products in Kansas, Missouri & Tennessee.

How much am I allowed to borrow?

MoneyKey Installment Loans range between $200-$2,600. The amount you may be eligible for depends on several factors, such as your monthly income and the maximum loan amount offered in your state. To view the loan amount available in your state, see our Rates & Terms Page.

What is the minimum credit score required for an online Installment Loan?

There is no minimum credit score requirement. MoneyKey Installment Loans are available even to people with bad credit or no credit. You can start your application by clicking here.

Are there any direct lenders that offer installment loans for people with poor credit?

Applying for installment loans online from direct lenders may be a good option for people with poor credit. There may be no minimum credit score requirement. Some lenders will approve a loan if you have:

  • A regular source of income
  • An active bank account
  • Valid contact details

MoneyKey Installment Loans are available even to people with poor credit or no credit. You can start your application by clicking here.

How do I apply for installment loans from direct lenders or licensed lender?

Applying for an installment loan from a direct lender like MoneyKey is quick and easy. Click on Apply Now to start your application and fill in the required form. If your application is accepted, you will be asked to review and sign the loan agreement. A MoneyKey agent will contact you to verify your information and confirm the loan with you. Once your loan is approved, you will get the money in your bank account as soon as the next business day.

When will the money be deposited into my bank account?

If your loan is approved before 9:00 PM EST from Monday through Friday, or before 6:30 PM EST on Saturday and Sunday, the money will be deposited in your bank account the following business day. Please note that the date and time the money is made available to you by your bank is subject to your bank’s policies.

Payment Inquiries

How do I pay back my installment loan?

Based on the loan term mentioned in your agreement, your loan will be paid back in several scheduled installments, with the due dates typically set up to land on your pay dates. You may pay off your Installment Loan in full or make additional principal payments at any time without any early payment penalty. Making additional principal payments may reduce the amount of interest and/or fees that you will pay on your loan. If you would like to make an additional payment towards your Installment Loan before a scheduled payment date, you can contact our Customer Care team by:

MoneyKey encourages you to pay off your Installment Loan as quickly as possible to reduce the amount of interest and/or fees you will pay.

How are my payments set up?

In most cases, MoneyKey will set up your payment dates to match the pay frequency that you have with your employer/source of income. For example, if your payroll is set for bi-weekly Fridays, MoneyKey will try to set up your due dates to match that schedule.

Do I have the option to make minimum payments?

Financial misfortunes can leave you in quite the bind, putting you in a position where you are unable to pay your scheduled payment. If this happens, contact us as soon as possible to see if alternate payment arrangements can be made.

Account Inquiries

How do I check my account status?

You can log into your MoneyKey account by visiting to check your loan status, account balance, payment history and loan agreement.

Can I re-apply for another installment loan?

If your account is in good standing and you have paid off your prior loan, you’re more than welcome to come back as a returning customer. You can log into your MoneyKey account and apply for another loan within minutes or contact our Customer Care team at 1-866-255-1668.

*MoneyKey is a state licensed direct lender in the states of Alabama, California, Delaware, Illinois, Kansas, Mississippi, Missouri, New Mexico, Wisconsin and Utah. MoneyKey is licensed as a credit services organization (CSO) and credit access business (CAB) in the states of Ohio and Texas, respectively.

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