Installment Loans FAQs

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Installment Loan FAQs

Installment loans are repaid over time and have two or more (typically several) periodic scheduled payments with a stated date for final payment. Similar to a car payment, you pay a monthly, bi-weekly or weekly set scheduled amount. With an installment loan, interest generally accrues daily. Your easymoney installment loan payment schedule will be set after you are approved for a loan and will include your loan principal and interest.
Installment loans are commonly repaid over a longer period of time. This is different than Payday loans which typically are for a shorter period and are due in full in a single payment on your next payday. Installment loans are set to be repaid in multiple payments on an agreed upon periodic dates which are stipulated in your contract agreement.
If you are experiencing financial hardship, please reach out to an easymoney Loan Expert to discuss alternative payment arrangements.
Definitely. This is the best course of action to take since you would be minimizing the amount of interest you pay. Installment loans offered by easymoney accrue interest daily, so paying it off early saves you money on financing costs.
easymoney installment loans are offered up to $5,000 (only in Alabama), however, this can vary depending on your state; and the amount approved will depend upon your financial circmstances.
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Customer Notice: There are a wide variety of financial products available in the marketplace, so your choice should match your financial needs. Small-dollar loans used over a long period of time can be expensive.

Noticia al Consumidor: Existe una amplia variedad de productos financieros disponibles en el mercado, por lo que su elección debe coincidir con sus necesidades financieras. Los préstamos de poco dinero utilizados durante un largo período de tiempo pueden ser costosos.

Loan Products: Subject to state regulations, eligibility, credit check, underwriting & approval, and meeting state database eligibility where required, based on type of lending product requested. All products are not available at all locations. Rates, terms and conditions apply. See associate for details. Lending decisions and funding times subject to system limitations. Some applications may require additional verification, which can delay the lending decision.

Non-Loan Services: Rules, restrictions, and fees apply. See store for details.

Alabama: Minimum age to apply in Alabama is 19. Title loan amount determined by condition of vehicle and borrower's income. Not all clients or vehicles qualify. Title loans are made under the Alabama Pawnshop Act, Ala. Code 5-19A-1 et seq.

Tennessee: The State of Tennessee requires a minimum principal reduction on Line of Credit Products. In order to comply with the minimum state-required principal reduction, easymoney requires that minimum payments include a principal reduction of 1.75% for Customers who get paid bi-weekly/twice-a-month, or 3.50% for Customers who get paid monthly.

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The USA PATRIOT Act is a Federal law that requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. You will be asked to provide your name, address, date of birth, and other information that will allow us to identify you. You may also be asked to provide documentation as proof of identification. Approval is contingent upon successfully passing this mandatory identification confirmation.

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