Get $100 – $1,500 in your account today*.
Learn
Financial Literacy
Your Top Questions, Answered Here!
An installment loan online is a type of short-term personal loan that allows you to borrow a small amount of cash in lump sum from an online lending platform and repay it in fixed monthly or biweekly payments.
The main distinction lies in the balance between processing speed and borrowing costs. Traditional banks cater to borrowers with strong credit profiles, offering lower interest rates but involving lengthier, in-person underwriting process. Online installment loans, on the other hand, are designed for immediate cash flow needs. These loans feature a simple and convenient online application, near-instant approval decisions, no paperwork, flexible and minimal requirements, and fast funding often the same day or next business day. Additionally, borrowers can qualify for online installment loans with bad credit or no credit history.
An online installment loan is a viable option if you have a quick cash need to cover immediate personal expenses and are looking for a predictable and manageable repayment structure. An online installment loan is repaid in easy, equal payments and is, therefore, an ideal option when you cannot afford to pay off the loan balance in full immediately.
Online installment loans can be used to cover a variety of urgent personal expenses, including medical bills, debt consolidation, car repairs, home improvements, and holiday travel. Additionally, these loans can serve as an excellent tool to enhance your credit history if you make your scheduled payments consistently on time.
Yes. In contrast to payday loans that require you to pay in a lump sum, installment loans allow you to repay the balance in easy, equal monthly or biweekly payments. If you do not default on your loan payments, these loans are highly manageable and affordable.
No. We deeply appreciate your service to our country and thank you for your interest in our lending products. However, CashAmericaToday is currently unable to provide loans to active military members or their dependents.
To qualify for an online installment loan from CashAmericaToday, you generally need to be at least 25 years old, have U.S. residency, and provide a valid Social Security Number (SSN) along with a government-issued photo ID (Driver’s license or passport). Additionally, you must have an active checking account, proof of income, and no active bankruptcy filings. For more information on requirements, click here.
No. There is no standard minimum score required to apply with CashAmericaToday, and we welcome all credit profiles. You can confidently apply for our online loans even with a bad credit history. We specialize in providing installment loans for bad credit to help borrowers with low scores gain rapid access to emergency cash.
Yes. Applying for an installment loan from an online direct lender like CashAmericaToday does not require pledging your assets. We offer fully unsecured installment loans online, meaning you never have to risk your home equity or your car title to secure funding from us.
No. CashAmericaToday provides paperless and faxless online installment loans that completely eliminate time-consuming store visits, long lines, and physical documentation. You can complete our entire application process conveniently from home, securely upload your digital documents for rapid verification, and sign your electronic loan contract straight from your phone or laptop.
Yes. However, any loan requested on Friday after 6:00 PM EST will be processed on the next business day which is usually Monday, unless it is a holiday.
No. Your scheduled payment amount is electronically debited via ACH from your authorized checking account on the payment due date.
Non-payment or missed deadlines may result in additional late charges and penalty fees. If you realize you won't be able to make your next payment on time, please contact our customer care team as early as possible to discuss available extension options.