Whether you want to cover some unexpected expenses like medical bills, car repairs, home improvements or consolidate high-interest loans, getting a personal loan is a great option. A personal loan can be an unsecured loan with fixed term and fixed monthly payments (often called an installment loan) or a short term, higher interest loan that must be paid back much faster.
Installment loans are larger in size, $1,000 or more, and interest rates depend on your credit history and current employment status. You can get personal loans in at least two forms - payday loans and installment loans.
Benefits of Personal Loans
A personal loan helps you cover up your financial emergencies so you can take control of your finances. It offers many benefits:
- Fixed term, fixed rate and fixed monthly payments
- No prepayment fees
- No collateral needed
- Quick approval and access to funds
- Easy and secure online application process
How to Apply for Personal Loans
Before applying for personal loans, make sure you are approaching a reliable and trusted lender and read the terms and conditions carefully. Avoid lenders who ask for money or any upfront fees. Apply through a safe and secure website.
At CashOne, we help to connect you with legitimate lenders who are licensed and work according to the state laws where you live. We try our best to help people get the money they need by connecting you with a lender online. We are not a lender.
Our online application process is quick and simple. You just have to fill out your personal information on the application form and submit it. You are matched with the right lender and once approved, money is deposited directly in your bank account the next working day.
Personal Loans with Bad Credit
You can apply for personal loans even with bad credit. You will find lenders that are willing to lend you money even if you have a bad credit history. Your ability to repay the loan is what qualifies you for these loans.
Installment Loans & Payday Loans
Most personal loans are taken in the form of payday loans which are paid back by the next payday. They help you meet any unexpected financial emergency between your pay days. Payday loans are a great option if you want a smaller amount that you can repay when you receive your next pay check.
Installment loans are type of personal loans in which the payment is evenly spread out over the term of the loan and you can repay the loan with fixed and regular installments. They are one of the best options if you want a bigger amount of cash but can't repay it all at once.
These loans make repayment more manageable and convenient as it's easier to pay off in smaller chunks compared to the lump sum amount. Typically, they have lower interest rates or fees as well.
People with poor credit history can also qualify for bad credit installment loans. You just have to satisfy the requirements and conditions set by the lenders.
Need a personal loan to tackle your unexpected financial situation? Apply now!