Installment Loans in
New Mexico

Apply Today

 Online Installment Loans in New Mexico

Searching for Installment Loans in New Mexico? MoneyKey may be able to help you get the funds you need fast. An Installment Loan is a short-term loan with payments that are spread out over time.

Click “Apply Now” and we’ll let you know if you qualify and how much you can borrow. If you’re approved, we’ll deposit the money in your bank account as early as the next business day*.

Not only do we make the online application process simple, we also have a team of friendly and knowledgeable Customer Care agents available to answer any loan-related questions you may have. Whether online or on the phone, we aim to provide you with outstanding customer service.

Summary

Loan Amount: $200 to $1,400

Loan Type: Installment Loan

Loan Term: ~18 months

Funding: 1 business day*

Pre-Payment Available: Yes

Apply Now 


Loan Details

Loan Amount

For New Mexico Installment Loans, the amount you can borrow ranges between $200 and $1,400. After we review your application, we’ll let you know if you’re approved and how much you qualify for.

Cost of Loan

Interest will be charged on your MoneyKey New Mexico Installment Loan, with a maximum annual percentage rate (APR) of 175%. Your APR is dependent on your exact payment schedule; see the below examples for common MoneyKey Installment Loans in New Mexico and their corresponding APRs. The 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

The loan term is approximately 18 months in New Mexico, 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:

Bi-Weekly Example

In this example, the APR is 173.49% for a loan of $500 with an effective date of 08/14/2018, payable in 36 bi-weekly installments.




Annual Percentage Rate


The cost of your credit as a yearly rate


173.49%





Finance Charge


The dollar amount the credit will cost you


$807.99




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


$1,307.99




 Payment Schedule



Payment DatePrincipal AmountInterest AmountTotal Payment
08/24/2018$12.48$23.83$36.31
09/07/2018$3.78$32.53$36.31
09/21/2018$4.03$32.28$36.31
10/05/2018$4.30$32.01$36.31
10/19/2018$4.59$31.72$36.31
11/02/2018$4.89$31.42$36.31
11/16/2018$5.22$31.09$36.31
11/30/2018$5.57$30.74$36.31
12/14/2018$5.94$30.37$36.31
12/28/2018$6.34$29.97$36.31
01/11/2019$6.76$29.55$36.31
01/25/2019$7.21$29.10$36.31
02/08/2019$7.69$28.62$36.31
02/22/2019$8.21$28.11$36.32
03/08/2019$8.75$27.56$36.31
03/22/2019$9.34$26.97$36.31
04/05/2019$9.96$26.35$36.31
04/19/2019$10.63$25.69$36.32
05/03/2019$11.33$24.98$36.31
05/17/2019$12.09$24.22$36.31
05/31/2019$12.90$23.41$36.31
06/14/2019$13.76$22.55$36.31
06/28/2019$14.68$21.63$36.31
07/12/2019$15.66$20.65$36.31
07/26/2019$16.70$19.61$36.31
08/09/2019$17.82$18.49$36.31
08/23/2019$19.01$17.31$36.32
09/06/2019$20.27$16.04$36.31
09/20/2019$21.63$14.68$36.31
10/04/2019$23.07$13.24$36.31
10/18/2019$24.61$11.70$36.31
11/01/2019$26.25$10.06$36.31
11/15/2019$28.01$8.31$36.32
11/29/2019$29.87$6.44$36.31
12/13/2019$31.87$4.44$36.31
12/27/2019$34.78$2.32$37.10


Monthly Example

In this example, the APR is 168.37% for a loan of $500 with an effective date of 10/05/2018, payable in 18 monthly installments.




Annual Percentage Rate


The cost of your credit as a yearly rate


170.07%





Finance Charge


The dollar amount the credit will cost you


$879.04




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


$1,379.04




 Payment Schedule



Payment DatePrincipal AmountInterest AmountTotal Payment
11/01/2018$13.77$62.87$76.64
11/30/2018$10.97$65.67$76.64
12/31/2018$8.03$68.61$76.64
02/01/2019$7.01$69.63$76.64
03/01/2019$16.63$60.01$76.64
04/01/2019$12.60$64.04$76.64
05/01/2019$16.43$60.22$76.65
05/31/2019$18.72$57.92$76.64
07/01/2019$19.49$57.15$76.64
08/01/2019$22.31$54.33$76.64
08/30/2019$28.83$47.81$76.64
10/01/2019$28.18$48.46$76.64
11/01/2019$33.76$42.88$76.64
11/29/2019$42.31$34.33$76.64
12/31/2019$43.72$32.93$76.65
01/31/2020$51.06$25.59$76.65
02/28/2020$60.19$16.45$76.64
04/01/2020$65.99$10.14$76.13




TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL:

Customer Communications Administrator
3422 Old Capitol Trail, Suite 2057
Wilmington, DE 19808
Phone Number: 647-776-4300 ext. 2197
Email Address: Feedback@MoneyKey.com

This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website http://www.rld.state.nm.us/financialinstitutions.

State License

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

Click below to view our New Mexico license.

Online Installment Loans in New Mexico: Frequently Asked Questions

  • How do I qualify for a loan?

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

    • Be at least 18 years old
    • Be a US citizen or a permanent resident
    • Be a resident of New Mexico
    • 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, you’ll typically get your funds the next business day*.

  • Can I pay my loan off early?

    Yes, and there’s no penalty to pay off your New Mexico Installment Loan earlier than scheduled. If you’d like to make an early payment, or a larger payment to pay down more of your principal, you may do so by calling us at 1-866-255-1668 or emailing customercare@moneykey.com. Paying off your loan earlier than scheduled may reduce the total interest you’ll pay.

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

    Unfortunately, you have to be living in New Mexico to get an online Installment Loan in New Mexico. Whether you live in a rural part of the state, a city like Albuquerque, or smaller towns like Santa Fe or Las Cruces, we’d love to help you with a loan.

    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 250,000 customers.

Let us help you!

Apply Today