Best Installment Loans for Bad Credit of June 2024

ElitePersonalFinance
Last Update: September 25, 2023 Loan Reviews Loans

An installment loan allows you to borrow money, usually between $5,000 and $250,000, and repay it over time in monthly installments. Term lengths typically range between three and six years and sometimes longer. Installment loans, also known as personal loans, are used for a wide variety of expenses, including home improvement, credit card debt consolidation, buying a car, and paying for medical bills, to name a few.

Personal loans can vary widely in length, APR, and fees. Therefore, it is essential to choose carefully, considering several factors when looking for an installment loan. If you have a low credit score, rates could go as high as 30% or more.

We have scrutinized some of the best legit installment loan companies by looking at their background, fees, terms, and rates to recommend reputable providers. Most lenders are soft, and most banks and credit unions perform hard inquiries.

Review our marketplace to find the best installment loans for bad credit June 2024.

Best Installment Loans for Bad Credit of June 2024: Key Findings