Installment Loans in
Delaware

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 Online Installment Loans in Delaware

Are you looking for installment loans in Delaware from a reliable lender? You’ve come to the right place. Our MoneyKey Delaware Installment Loans can help you pay for those unexpected expenses that pop up from time to time. An Installment Loan is a short-term loan with payments that are spread out over time.

We make you our top priority with our fast and easy application process – some loans are approved in minutes. If you’re approved, we’ll typically deposit the money in your bank account the next business day*.

In addition to our secure online platform, we have a friendly and knowledgeable Customer Care team offering outstanding service. You can call us 7 days a week; our agents are available to answer any loan-related questions you may have.

Summary

Loan Amount: $150 to $1,000

Loan Type: Installment Loan

Loan Term: ~8 months

Funding: 1 business day*

Pre-payment Available: Yes

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Loan Details

Loan Amount

You can borrow between $150 and $1,000 for a Delaware Installment Loan. After we review your application, we’ll let you know if you’re approved and how much you are eligible to borrow.

Cost of Loan

MoneyKey charges a fee of $25 per $100 on the outstanding principal balance for each installment in your payment schedule if you’re a non-monthly paid customer. If you’re paid monthly, you’ll be charged a fee of $30 per $100 on the outstanding principal balance for each installment in your payment schedule.

The annual percentage rate (APR), repayment amount and payment schedule will vary depending on the specific details of your loan, which are available in your loan agreement.

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

Your loan payments typically start on your next payday and the loan term will be approximately 8 months. If you are paid monthly, you’ll have 8 scheduled installments. If you are paid weekly, bi-weekly, or semi-monthly, you’ll have 14 scheduled installments.

Here are some examples:

Bi-Weekly Example

In this example, a bi-weekly customer (who is charged a fee of $25 per $100 on the outstanding principal for each installment) is approved for a $500 installment loan, payable in 14 installments with an effective date of 08/28/2018.




Annual Percentage Rate


The cost of your credit as a yearly rate


613.85%





Finance Charge


The dollar amount the credit will cost you


$1,330.18




Amount Financed


The amount of credit provided to you on your behalf


$500.00




Total of Payments


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


$1,830.18




 Payment Schedule



 Payment DatePayment Amount 
 09/14/2018$130.75
 09/28/2018$130.75
 10/12/2018$130.75
 10/26/2018$130.75
 11/09/2018$130.75
 11/23/2018$130.75
 12/07/2018$130.75
 12/21/2018$130.75
 01/04/2019$130.75
 01/18/2019$130.75
 02/01/2019$130.75
 02/15/2019$130.75
 03/01/2019$130.75
 03/15/2019$130.43

Monthly Example

In this example, a monthly customer (who is charged a fee of $30 per $100 on the outstanding principal for each installment) is approved for a $500 installment loan, payable in 8 installments with an effective date of 08/28/2018.




Annual Percentage Rate


The cost of your credit as a yearly rate


343.94%





Finance Charge


The dollar amount the credit will cost you


$867.81




Amount Financed


The amount of credit provided to you on your behalf


$500.00




Total of Payments


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


$1,367.81




 Payment Schedule



 Payment DatePayment Amount 
 10/01/2018$170.94
 11/01/2018$170.94
 11/30/2018$170.94
 12/31/2018$170.94
 02/01/2019$170.94
 03/01/2019$170.94
 04/01/2019$170.94
 05/01/2019$171.23


State License

MoneyKey is a state-licensed direct lender in Delaware, currently licensed as a Chapter 22 Licensed Lender. Loans are funded by MoneyKey – DE, Inc. and governed by all applicable laws. For more information on the license status of MoneyKey – DE, Inc., please visit the Delaware State Bank Commissioner’s website or call the Delaware State Bank Commissioner at 1-302-739-4235.

Online Installment Loans in Delaware: Frequently Asked Questions

  • How do I qualify for a loan?

    To qualify for an Installment Loan in Delaware, you must:

    • Be at least 18 years old
    • Be a US citizen or a permanent resident
    • Be a resident of Delaware
    • 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.

  • Is this a payday loan?

    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.

  • Can I get same day funding?

    If you are approved, we’ll typically deposit the money in your account the next business day*.

  • Can I pay my loan off early?

    Yes, of course. There’s no penalty to pay off your Installment Loan earlier than scheduled. In fact, MoneyKey encourages you to pay off your loan as soon as possible, as paying off your loan early may reduce the total finance charges you’ll pay. If you’d like to make an early payment, or a larger payment to pay down more of your principal, you can call us 7 days a week at 1-866-255-1668 or email customercare@moneykey.com.

  • I don’t live in Delaware, can I still apply for an online installment loan?

    You need to be a resident of Delaware to be eligible for a Delaware Installment Loan. It doesn’t matter if you live in the state capital of Dover, in cities like Wilmington or Newark, or a town like Middletown – you can easily apply online or over the phone.

    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.

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