If you are in need of some quick cash, installment loans in Ohio might be the solution for you. These loans allow you to borrow money in a lump sum and repay it over time, rather than all at once. This can be a great option if you need money for an emergency cash or if you don’t have the funds to cover unexpected expenses like medical bills or car repairs.
We work with a network of direct lenders who offer payday loans and personal loans online, so you can apply for an online installment loan in Ohio from the comfort of your own home and we’ll connect you with a lender who can help. The entire process can be completed online, and you could have the money you need in as little as 24 hours!
Bad Credit Installment Loans
Even if you have poor credit, you could qualify for a payday loan or personal loan from our network of direct lenders. We work with a variety of Ohio installment loan lenders who are willing to provide such loans, so you can get the cash you need and improve your financial situation.
All you need in order to apply for a loan through one of our partners is to have a valid bank account, a drivers license or other government-issued ID, and a steady source of income. Once you have these things, you can fill out our online installment loan application and wait for a decision from one of our lenders. If approved, the money will be deposited directly into your account as soon as the next business day!
Payday Loans in Ohio
The state of Ohio allows installment loans and payday loans. The maximum loan amount is $500, with a term of up to 12 months. There is no minimum term for installment loans in Ohio. The average APR for an installment loan in Ohio is around 300%.
Payday loans are not a long term financial solution and should only be used for emergency financial needs. If you find yourself often needing to take out payday loans or installment loans, it is important to seek professional help from a credit counseling service or debt consolidation company.
Personal Loans in Ohio
Personal loans have longer loan terms and lower interest rates than payday loans or installment loans. The maximum personal loan amount is $35,000, with a loan term of up to 60 months.
Title Loans in Ohio
Another type of loan request available in Ohio is a title loan, which is secured by the equity in your vehicle. The amount you can borrow and the interest rate you pay will depend on the value of your car. Title loans are very expensive and should only be used as a last resort when all other options have been exhausted.
Other Installment Loans Ohio
There are other installment loans available in Ohio as well, such as:
- Credit cards
- Home equity lines of credit (HELOCs)
- Personal lines of credit
These installment loans will have different interest rates and terms depending on the type of loan, your credit score, and the lender. It’s important to compare all your options before choosing an installment loan.
Frequently Asked Questions
If you still want to learn more, we put together a list of common questions people have about Ohio installment loans, and answers to those questions:
What is the easiest loan to get right now?
There is no easy answer to this question. The best way to find the right loan for you is to compare your options and choose the one that best meets your needs.
What installment loans are available in Ohio?
There are many installment loans available in Ohio. Some of the most popular installment loans include Personal Loans and Payday Loans.
Does Ohio still have payday loans?
Yes, Ohio still offers payday loans. However, the amount of money you can borrow with a payday loan is limited to $500 and the loan term for payday loans is typically 30 days or less.
What is the maximum amount I can borrow with an installment loan in Ohio?
The maximum amount you can borrow with an installment loan in Ohio depends on the lender you choose. Some lenders may offer installment loans up to $1000, while others may offer up to $35,000.
How do I apply for an installment loan in Ohio?
When you complete the online application here at Loans General, we submit your information to financial institutions and direct lenders who may be able to offer you installment loans. If you are connected with a lender, they will provide you with loan offers and terms.
You can then choose the installment loan that best meets your needs and apply online.
Do you need collateral for an installment loan?
No collateral is required for payday loans or personal loans, but for title loans and some other types of loans , collateral may be required.
How long does it take to get an installment loan in Ohio?
If you are connected with a lender, they will provide you with loan offers and terms. Once you have chosen the installment loan that best meets your needs and applied online, the process of getting your cash can take as little as 24 hours.
Is an installment loan better than a payday loan?
Installment loans and payday loans both have their pros and cons, so it’s bet to compare them and see which works better for you.
Personal loans have a longer repayment period than payday loans, so you will have more time to pay back the loan. However, personal loans also tend to have lower interest rates than payday loans. Because they have lower interest rates, they usually require good credit though.
Payday loans on the other hand have a shorter repayment period, but they also have much higher interest rates. Payday loans are also easier to qualify for than installment loans, which makes these short term loans a more common choice for people with credit difficulties or a poor credit record.
What is a direct installment loan?
A direct installment loan is a type of loan in which the borrower receives the money they borrowed in one lump sum and then repays the loan over time in installments. This type of loan is different from a payday loan, which requires the borrower to repay the entire amount borrowed all at once on their next payday.
Does an installment loan require a credit check?
When you apply for a loan using Loans General, our network of direct lenders may run a credit check with the traditional credit bureaus. This may be in the form of a soft credit check or a hard credit check. A hard credit check may impact your credit score and show up on your credit report for up to two years.