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      March 31, 2020

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Installment Loans

  1. LendingClub
  2. Upstart
  3. Avant
  4. 100 Lenders
  5. Net Credit
  6. One Main Financial
  7. Personal Loans
  8. LifeLoans
  9. Max Lend

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Live Watch vs One Main Financial

Best Installment Loans

To help you find the Best Installment Loans, TopConsumerReviews.com provides you with an in-depth comparison of Live Watch and One Main Financial.

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Medical bills, unexpected car repairs, layoffs and more - does any of this ring a bell? There are lots of reasons why many people find themselves strapped for cash. What can you do if your income just isnít enough to make ends meet and you need money?

If you have a financially-comfortable friend or relative, you could put yourself through the embarrassment of asking them for a loan - which would be better than paying the extremely high interest rates associated with most credit cards or payday loans. Another option is to consider an installment loan.

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Best Reviews

2020

Installment Loan Reviews

4 stars
Upstart

UPSTART

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Loan:

From $1,000 to $50,000

Upstart is a peer-to-peer lending platform founded by former Googlers. At first glance, the site is neat and includes finance-related images such as pie charts and percentage signs to emphasize their purpose, which is to help people achieve their financial goals. The fonts are large, allowing easy reading, very helpful since financial information can be overwhelming. The site allows one to process information while pacing the reader through use of space and letter size.

Professional in look, the site however does not hope to impress in graphics or photos of people enjoying newfound financial freedom. Instead, the site uses facts and figures to communicate a serious, all-business tone. The only downside to this setup is that if a customer is not familiar with loans or borrowing lingo, they might be lost until they scroll to the bottom of the Home page to click on "Contact Us".

For customers who aren't sure where to begin, Upstart has a "Get Started" icon which asks them what they want to do. Upstart offers help with loan consolidation, paying off credit cards, paying medical bills, buying a car or other big purchases. Such a wide range of services is comforting to those seeking financial advice. The site also provides education to help you prepare for future financial decisions.

With respect to personal loans, Upstart is efficient. You can apply online and find out your rate within a few minutes. You're asked simple questions about your income and education history. Upstart then presents you with loan terms and options for payment. Once a customer agrees to the terms of the loan, funds are issued - sometimes, by the next business day. If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

Upstart's reputation is very solid - you'll quickly see links to articles on prominent sites like Fox, Bloomberg, and other news agencies, along with testimonials from satisfied clients. Their underwriting model uses machine learning and artificial intelligence techniques to underwrite borrowers based on many variables, including but not limited to credit score, income, education, and employment. Such details helped us gain more confidence in the success of this company's services.

We found the blog articles very helpful. With topics ranging from selecting health insurance to saving money on groceries, a person seeking financial security could benefit from the wisdom these articles offer. Unfortunately, this tool is found at the bottom of the Home page. The website would function more effectively if they included this option at the top of the page along with "Contact" and "Team" information because it is on these pages where we found answers to our initial questions.

While Upstart's website is good, it could use some enhancements to make it more user friendly. Still, Upstart earns high marks for their quick processing of loan applications and many helpful financial features.

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3 stars
One Main Financial

ONE MAIN FINANCIAL

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Loan:

Personal and Auto Loans from $1,500 - $30,000

OneMain Financial is a leading national consumer loan company that has been in business since 1912. They offer personal and auto loans at nearly 1,700 branches across the United States and has an A+ rating from the Better Business Bureau.

Stability and a high rating from the Better Business Bureau may be the two greatest strengths of OneMain when it comes to the loans they offer. There is just one application asking for personal information that they ask a prospective client to fill out.

Once the application is completed and if approved, a OneMain representative will call to discuss the details of your loan. If you want to learn more about OneMain's loan product before you apply, they provide an example payment schedule on their site along with other loan information such as payment options, which can be found in their FAQ's section.

Reviewing further, we found consumers that reported a range of interest rates and a few comments about mandatory insurance. However, OneMain discloses fees to the consumer during the loan closing process and any insurance is completely optional for the consumer. Some customers reported high interest rates, while others reported various fees that added to their rate.

On the plus side, OneMain may be an option for people with lower credit ratings. You may also be able to get a loan that does not require collateral. However, you should be aware that this may come with high rates. When the OneMain representative contacts you with your loan offer, be sure you're comfortable with the details. The company has a long, successful history, and appears strong and solvent, so it should be considered a legitimate lending source for your financial needs.

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Continued from above

Repaid over time with a predetermined number of set payments, these loans can help bridge the gap between what you have and what you need while allowing you to comfortably accommodate the repayment schedule. Many installment loans today are funded using a system known as a social lending network, matching borrowers with lenders through a peer-to-peer structure. Compared with other loans available, these installment loans usually have lower interest rates, mostly because of the lower overhead costs associated with this type of borrowing.

While you may feel a little apprehensive when trying to choose a lender for your installment loan, there are several factors you can use to make sure your loan is on solid footing. When looking at any potential lender, here are three things to check out:

  • Loan application process. What do you need to provide in terms of documentation to complete the application? Can all or most of the process be done online?
  • Loan rates, terms, and amounts. Will the lender provide an installment loan that covers the amount you need? Do the available repayment terms Ė such as the interest rate, and length of the loan - seem reasonable?
  • Reputation. Does the lender have a good track record for providing quality customer service? Is the lending company accredited with the Better Business Bureau?

TopConsumerReviews.com has reviewed and ranked the best Installment Loans available today. We hope this information helps you find the loan you need with the best possible rate and terms!

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Banks May Soon Offer More Loan Options - Here's What to Know

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An official Central Bank of Egypt (CBE) source has revealed that there are over 5 million beneficiaries of the CBE initiative to postpone loan installment payments. This includes both individual ...

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Installment Loans: Here's What You Need to Know

An installment loan may not be a household term. But if you look closely at it, you'll realize that it's one of the most common types of loans out there. Most probably, you have already used it under ...

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What Is Amortization and How Do You Use It To Pay Off Loans?

Both companies and individuals can leverage amortization to write off assets over that assets anticipated period of usage, and create faster ways to pay off installment loans - moves that can ...

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Regulators encourage lenders to give loans to responsible consumers and small businesses during COVID-19 outbreak

What types of loans will be available? The group left open the range of loan possibilities to lending institutions, but it suggested open-end lines of credit, closed-end installment loans, or ...

Published:  Fri, 27 Mar 2020 07:56:00 GMT



Federal Financial Regulators Urge Banks to Make Small-Dollar Loans

The loans can be offered through open-end lines of credit, closed-end installment loans, or structured single payment loans. Large banks haven't typically offered small-dollar loans, but that started ...

Published:  Thu, 26 Mar 2020 16:27:00 GMT



Covid-19 in UAE: Banks offer installment plans on school fees, loans, card payments

Cardholders will be able to benefit from installment plans on all their card expenditures for a period of six ... For individual customers directly impacted by Covid-19 outbreak, Fab will defer ...

Published:  Sat, 21 Mar 2020 05:10:00 GMT



3-Month Relaxation Likely In Loan EMIs As RBI Eases Rules Amid Virus Crisis

The RBI on Friday put on hold equity monthly installment (EMI) payments on all term loans for three months as it joined the government effort to buffer the economy from the consequences of Covid-19 ...

Published:  Fri, 27 Mar 2020 00:38:00 GMT



SSS extends deadline for premium, loan payments

"For employers with approved installment proposals under the Contribution Penalty Condonation Program, their post-dated checks due in February, March, April and May shall be deposited on June 1," the ...

Published:  Mon, 30 Mar 2020 09:03:00 GMT



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