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Online Installment Loans in Texas

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Online Installment Loans in Texas

If you’re looking for Texas installment loans online, or an alternative to traditional payday loans that are payable on your next pay date, you’ve come to the right place. MoneyKey arranges Installment Loans in Texas as a Credit Access Business (CAB) and a Credit Services Organization (CSO). As a CAB/CSO, we’ll set up a loan between you and an unaffiliated third-party lender who provides the funding.

Applying for Texas Installment Loans online through MoneyKey is fast and secure. If you’re approved, funds are typically deposited into your bank account the next business day*.

As you move through your credit journey, you may also be eligible for a reduced cost of credit and/or increased loan amounts based on your payment history over time.

We make you our priority and treat you with respect throughout the loan borrowing and repayment process. We have a fully-staffed, friendly Customer Care team working 7 days a week to help you with any loan-related questions you may have.

Summary

Loan Amount: $200 to $2,500

Loan Type: Installment Loan

Loan Term: ~6 months

Funding: same business day*

Pre-Payment Available: Yes

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How Texas Installment Loans Work

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1. Submit Your Appllication


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2 Get Approved


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3. Get Money The Same Business Day*

Texas Installment Loan Details

Loan Amount

The amount you can borrow for an Installment Loan in Texas ranges between $200 and $2,500.

Cost of Loan

For a Texas Installment Loan, you will be responsible for paying back:

As the CAB fee is earned immediately and paid to MoneyKey by the third-party lender on your behalf, the principal of your Texas Installment Loan includes the CAB fee.

The cost of your loan, including 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.

As you move through your credit journey, you may also be eligible for a reduced cost of credit and/or increased loan amounts based on your payment history over time.

Term of Loan

The Texas Installment Loan term is approximately 6 months. If you receive your income bi-weekly, semi-monthly or weekly, your loan will be payable in 11 installments. If you receive your income monthly, your loan will be payable in 5 installments.

Here are some examples:

In this example, the APR is 292.624% for a $500 loan with an effective date of 05/26/2021, payable in 11 bi-weekly installments.

Annual Percentage Rate Finance Charge Amount Financed CAB Fee Total of Payments
The cost of your credit as a yearly rate

292.624%

The dollar amount the credit will cost you

$406.90

The amount of credit provided to you on your behalf

$500.00

The dollar amount of the CAB fee

$386.12

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

$906.90

Payment Schedule

Payment Date Payment Amount
06/11/2021 $84.43
06/25/2021 $83.63

In this example, the APR is 307.098% for a $500 loan with an effective date of 06/02/2021, payable in 5 monthly installments.

Annual Percentage Rate Finance Charge Amount Financed CAB Fee Total of Payments
The cost of your credit as a yearly rate

307.098%

The dollar amount the credit will cost you

$433.01

The amount of credit provided to you on your behalf

$500.00

The dollar amount of the CAB fee

$410.58

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

$933.01

Payment Schedule

Payment Date Payment Amount
07/01/2021 $189.35
07/30/2021 $187.89
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Texas Disclosures

Consumer Disclosure Forms

The following links contain disclosures as required by the Office of the Consumer Credit Commissioner (OCCC) for all residents applying for an Installment Loan. These disclosures outline all of the estimated costs associated with Installment Loans of the following amounts:

Fee Schedule – Common Loan Amounts

Click here to view examples of the most common loans transacted by MoneyKey (opens in PDF).

Consumer Credit Notice

This business is licensed and examined under Texas law by the Office of Consumer Credit Commissioner (OCCC), a state agency. If a complaint or question cannot be resolved by contacting the business, consumers can contact the OCCC to file a complaint or ask a general credit-related question. OCCC address: 2601 N. Lamar Blvd., Austin, Texas 78705. Phone: (800) 538-1579. Fax: (512) 936-7610. Website: occc.texas.gov. Email: consumer.complaints@occc.texas.gov.

An advance of money obtained through a payday loan or auto title loan is not intended to meet long-term financial needs. A payday loan or auto title loan should only be used to meet immediate short-term cash needs. Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges.

State Licenses

MoneyKey – TX, Inc. is licensed as a Credit Access Business (CAB) by the Office of the Consumer Credit Commissioner and registered as a Credit Services Organization by the State of Texas.

Click below to view the Texas licenses.

Texas Installment Loans Online: Frequently Asked Questions

General Inquiries

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