Installment Loans New Mexico

Rates and Terms

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About MoneyKey Online Installment Loans in New Mexico

The MoneyKey online Installment Loan offered in New Mexico is a simple interest loan product repayable in installments spread out over a period of approximately eighteen (18) months.

Note: Our terms have changed. If you received your Installment Loan prior to December 27th, 2017, please refer to your loan agreements for terms and conditions.

How much can I borrow in New Mexico?

MoneyKey offers online Installment Loans to New Mexico residents in amounts ranging between $200 and $1,400. Whether an individual will be approved, and the amount they will be approved for, is dependent on certain qualification criteria.

How much will my Installment Loan cost in New Mexico?

Your annual percentage rate (APR) is dependent on your exact payment schedule; see the below examples for common MoneyKey loans in New Mexico and their corresponding APRs.

Bi-Weekly Example: In this example, the APR is 174.503% for a loan of $1,000 with an effective date of 01/02/2018. This is based on a loan term of 36 installments paid over 18 months. This is only an example; the APR, repayment amount and payment schedule will vary depending on the individual loan term.

ANNUAL PERCENTAGE RATEFINANCE CHARGEAMOUNT FINANCEDTOTAL OF PAYMENTSTOTAL NUMBER OF PAYMENTS
The cost of your credit as a yearly rate The dollar amount the credit will cost you The amount of credit provided to you on your behalf The amount you will have paid after you have made all payments as scheduled The number of individual payments you will have made until your loan is repaid in full
174.503%$1,674.10$1,000.00$2,674.1036

PAYMENT SCHEDULE

 PAYMENT NUMBER   PRINCIPAL AMOUNT   INTEREST AMOUNT   TOTAL PAYMENT AMOUNT   PAYMENT DATE 
1$7.16$67.12$74.282018-02-15
2$7.64$66.64$74.282018-03-01
3$8.15$66.12$74.272018-03-15
4$8.70$65.58$74.282018-03-29
5$9.28$64.99$74.272018-04-12
6$9.90$64.37$74.272018-04-26
7$10.57$63.71$74.282018-05-10
8$11.28$63.00$74.282018-05-24
9$12.03$62.24$74.272018-06-07
10$12.84$61.43$74.272018-06-21
11$13.70$60.57$74.272018-07-05
12$14.62$59.65$74.272018-07-19
13$15.61$58.67$74.282018-08-02
14$16.65$57.62$74.272018-08-16
15$17.77$56.50$74.272018-08-30
16$18.96$55.31$74.272018-09-13
17$20.24$54.04$74.282018-09-27
18$21.59$52.68$74.272018-10-11
19$23.04$51.23$74.272018-10-25
20$24.59$49.68$74.272018-11-08
21$29.67$44.60$74.272018-11-21
22$24.94$49.33$74.272018-12-06
23$29.91$44.37$74.282018-12-20
24$31.91$42.36$74.272019-01-03
25$34.06$40.22$74.282019-01-17
26$36.34$37.93$74.272019-01-31
27$38.78$35.49$74.272019-02-14
28$41.38$32.89$74.272019-02-28
29$44.16$30.11$74.272019-03-14
30$47.13$27.15$74.282019-03-28
31$50.29$23.98$74.272019-04-11
32$53.67$20.61$74.282019-04-25
33$57.27$17.01$74.282019-05-09
34$61.11$13.16$74.272019-05-23
35$65.21$9.06$74.272019-06-06
36$69.85$4.68$74.532019-06-20

Monthly Example: In this example, the APR is 168.369% for a loan of $1,000 with an effective date of 02/01/2018. This is based on a loan term of 18 installments paid over 18 months. This is only an example; the APR, repayment amount and payment schedule will vary depending on the individual loan term.

ANNUAL PERCENTAGE RATEFINANCE CHARGEAMOUNT FINANCEDTOTAL OF PAYMENTSTOTAL NUMBER OF PAYMENTS
The cost of your credit as a yearly rate The dollar amount the credit will cost you The amount of credit provided to you on your behalf The amount you will have paid after you have made all payments as scheduled The number of individual payments you will have made until your loan is repaid in full
168.369%$1,600.33$1,000.00$2,600.3318

PAYMENT SCHEDULE

 PAYMENT NUMBER   PRINCIPAL AMOUNT   INTEREST AMOUNT   TOTAL PAYMENT AMOUNT   PAYMENT DATE 
1$79.21$65.20$144.412018-02-15
2$24.34$120.08$144.422018-03-15
3$23.34$121.08$144.422018-04-13
4$14.29$130.12$144.412018-05-15
5$20.42$123.99$144.412018-06-15
6$35.08$109.33$144.412018-07-13
7$20.95$123.46$144.412018-08-15
8$35.10$109.31$144.412018-09-14
9$36.52$107.89$144.412018-10-15
10$41.80$102.62$144.422018-11-15
11$54.06$90.35$144.412018-12-14
12$52.77$91.64$144.412019-01-15
13$63.26$81.16$144.422019-02-15
14$79.36$65.05$144.412019-03-15
15$83.85$60.56$144.412019-04-15
16$97.52$46.89$144.412019-05-15
17$111.14$33.27$144.412019-06-14
18$126.99$18.33$145.322019-07-15

When do I pay the Installment Loan back?

The New Mexico online Installment Loan term is approximately eighteen (18) months. For customers who receive their income:

Bi-weekly, semi-monthly and weekly: The loan is repayable in thirty-six (36) installments.

Monthly: The loan is repayable in eighteen (18) installments.

Any payment made in excess of your scheduled payments (whether a partial or full prepayment) will reduce the finance charges you will pay in connection with the loan, relative to the finance charges disclosed in your loan agreements.

Can I pay off my Installment Loan early?

Yes, you can pay off your loan early and there is no penalty to do so. MoneyKey encourages you to pay your loan off as quickly as possible to reduce the total payment amount set out in the original payment schedule.

If you want to pay an additional amount over and above your scheduled installment, you may do so at any time by contacting us by phone at 1-866-255-1668 or via email at customercare@moneykey.com.

Can I cancel my Installment Loan?

You can cancel your loan at no cost by returning the entire principal balance within three (3) business days of the effective date of your agreement. However, until the entire balance is returned, your loan will remain active. If you would like to cancel your loan, please contact us by phone at 1-866-255-1668 or via email at customercare@moneykey.com.

Who funds the Installment Loans in New Mexico?

All MoneyKey New Mexico Installment Loans are funded by MoneyKey – NM, Inc. The loan agreement will be governed by applicable laws of the State of New Mexico.

New Mexico Disclosures

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 Divison, P.O.Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the divison by telephone at (505) 476-4885 or visit the website http://www.rld.state.nm.us/financialinstitutions/.

I have a few more questions about Installment Loans in New Mexico.

For additional questions, or if you would like to learn more about online Installment Loans in New Mexico, please call our Customer Care team at 1-866-255-1668 or check out the frequently asked questions (FAQs) for this product.

Authority to Operate

Our New Mexico license can be viewed by clicking the image below.

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