An installment loan involves borrowing a set amount of money, which is then paid back over time through regularly scheduled payments. These are also referred to as installments. An installment loan may be either unsecured, where your signature is the only guarantee of repayment, or secured, where you offer collateral as a guarantee of repayment. CashNetUSA installment loans are unsecured.

The amount of each installment primarily depends on the duration of the loan, the interest rate charged for borrowing the funds and the initial amount borrowed, or the loan principal. The length or term of an installment loan is often a period of four or more months.

A CashNetUSA installment loan may be repaid early at any time without a penalty. Our installment loans are only available in certain states. Please visit our Rates & Terms page to learn more about the products available in your state.

Here are some of the most common types of installment loans:

• A personal loan is an installment loan that can be used for a wide range of purposes. Personal loans are typically offered by financial institutions such as banks or credit unions. Although they are often unsecured, your credit history will typically impact whether or not you qualify for a personal loan.
• A mortgage loan is a secured loan intended to help a borrower purchase a home. In this case, the house acts as the collateral. Borrowers must make on-time payments, otherwise the lender could potentially foreclose on the property.
• An auto loan is a secured installment loan that is designed to help a borrower purchase a car. The vehicle then acts as collateral. If the borrower is unable to pay back the loan, the lender could repossess and sell the car in order to cover the remaining loan balance.
• Student loans are installment loans that borrowers use to pay for educational expenses such as tuition, books and on-campus housing. These types of installment loans generally offer lower interest rates for students, although this depends on the lender.

In order to be eligible to apply for an installment loan from CashNetUSA, you must:

• Be 18 years of age or older^‡
• Receive a verifiable, steady source of income
• Have an active checking account
• Be a U.S. citizen or permanent resident

Check out our Rates & Terms page to see if we offer installment loans in your state.

^‡Must be 21 years of age for Mississippi residents and 19 years of age for Alabama and Delaware residents.

Although CashNetUSA doesn't offer "bad credit installment loans," our custom alternative credit check process looks beyond your traditional credit score. So, less-than-perfect credit will not necessarily prevent you from qualifying for a CashNetUSA product.^* Even if you have been turned down by other lenders in the past, we may be able to assist you in obtaining a convenient credit option that fits your needs.