Online Installment Loans Texas | Installment Loans Online Texas

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Online Installment Loans in Texas

If you’re looking for Texas installment loans online, or an alternative to traditional payday loans that are payable on your next pay date, you’ve come to the right place. MoneyKey arranges Installment Loans in Texas as a Credit Access Business (CAB) and a Credit Services Organization (CSO). As a CAB/CSO, we’ll set up a loan between you and an unaffiliated third-party lender who provides the funding. Applying for Texas Installment Loans online through MoneyKey is fast and secure. If you’re approved, funds are typically deposited into your bank account the next business day*. As you move through your credit journey, you may also be eligible for a reduced cost of credit and/or increased loan amounts based on your payment history over time^†. We make you our priority and treat you with respect throughout the loan borrowing and repayment process. We have a fully-staffed, friendly Customer Care team working 7 days a week to help you with any loan-related questions you may have.

Summary

Loan Amount: $200 to $2,500 Loan Type: Installment Loan Loan Term: ~6 months Funding: same business day* Pre-Payment Available: Yes Apply now

How Texas Installment Loans Work

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1. Submit Your Appllication

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2 Get Approved^◆

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3. Get Money The Same Business Day^*

Texas Installment Loan Details

Loan Amount

The amount you can borrow for an Installment Loan in Texas ranges between $200 and $2,500.

Cost of Loan

For a Texas Installment Loan, you will be responsible for paying back:

The principal, which consists of the amount financed and the CAB fee. If you receive your income weekly, bi-weekly or semi-monthly, your CAB fee will be the sum of $11 for every $100 of the amount financed that is outstanding at the beginning of each payment period in your payment schedule. If you receive your income monthly, your CAB fee will be the sum of $24 for every $100 of the amount financed that is outstanding at the beginning of each payment period in your payment schedule and;
Interest of 10% per year on the principal, charged by the third-party lender.

As the CAB fee is earned immediately and paid to MoneyKey by the third-party lender on your behalf, the principal of your Texas Installment Loan includes the CAB fee. The cost of your loan, including the annual percentage rate (APR), repayment amount and payment schedule will vary depending on the specific details of your loan, which are available in your loan agreement. This loan is an expensive form of credit and is not intended to meet long-term financial needs. MoneyKey urges you to use this product responsibly. As you move through your credit journey, you may also be eligible for a reduced cost of credit and/or increased loan amounts based on your payment history over time^†.

Term of Loan

The Texas Installment Loan term is approximately 6 months. If you receive your income bi-weekly, semi-monthly or weekly, your loan will be payable in 11 installments. If you receive your income monthly, your loan will be payable in 5 installments.

Here are some examples:

In this example, the APR is 292.624% for a $500 loan with an effective date of 05/26/2021, payable in 11 bi-weekly installments.

Annual Percentage Rate	Finance Charge	Amount Financed	CAB Fee	Total of Payments
The cost of your credit as a yearly rate 292.624%	The dollar amount the credit will cost you $406.90	The amount of credit provided to you on your behalf $500.00	The dollar amount of the CAB fee $386.12	The amount you will have paid after you have made all payments as scheduled. $906.90

Payment Schedule

Payment Date	Payment Amount
06/11/2021	$84.43
06/25/2021	$83.63
07/09/2021	$83.32
07/23/2021	$83.02
08/06/2021	$82.70
08/20/2021	$82.41
09/03/2021	$82.10
09/17/2021	$81.79
10/01/2021	$81.47
10/15/2021	$81.16
10/29/2021	$80.87

In this example, the APR is 307.098% for a $500 loan with an effective date of 06/02/2021, payable in 5 monthly installments.

Annual Percentage Rate	Finance Charge	Amount Financed	CAB Fee	Total of Payments
The cost of your credit as a yearly rate 307.098%	The dollar amount the credit will cost you $433.01	The amount of credit provided to you on your behalf $500.00	The dollar amount of the CAB fee $410.58	The amount you will have paid after you have made all payments as scheduled $933.01

Payment Schedule

Payment Date	Payment Amount
07/01/2021	$189.35
07/30/2021	$187.89
09/01/2021	$187.04
10/01/2021	$185.10
11/01/2021	$183.63

Texas Disclosures

<h4">Consumer Disclosure Forms The following links contain disclosures as required by the Office of the Consumer Credit Commissioner (OCCC) for all residents applying for an Installment Loan. These disclosures outline all of the estimated costs associated with Installment Loans of the following amounts:

$500 Installment Loan – 11 Bi-Weekly Installments (opens in PDF)
$1,000 Installment Loan – 11 Bi-Weekly Installments (opens in PDF)
$2,000 Installment Loan – 11 Bi-Weekly Installments (opens in PDF)
$500 Installment Loan – 5 Monthly Installments (opens in PDF)
$1,000 Installment Loan – 5 Monthly Installments (opens in PDF)
$2,000 Installment Loan – 5 Monthly Installments (opens in PDF)

Fee Schedule – Common Loan Amounts

Click here to view examples of the most common loans transacted by MoneyKey (opens in PDF).

Consumer Credit Notice

This business is licensed and examined under Texas law by the Office of Consumer Credit Commissioner (OCCC), a state agency. If a complaint or question cannot be resolved by contacting the business, consumers can contact the OCCC to file a complaint or ask a general credit-related question. OCCC address: 2601 N. Lamar Blvd., Austin, Texas 78705. Phone: (800) 538-1579. Fax: (512) 936-7610. Website: occc.texas.gov. Email: [email protected]. An advance of money obtained through a payday loan or auto title loan is not intended to meet long-term financial needs. A payday loan or auto title loan should only be used to meet immediate short-term cash needs. Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges.

State Licenses

MoneyKey – TX, Inc. is licensed as a Credit Access Business (CAB) by the Office of the Consumer Credit Commissioner and registered as a Credit Services Organization by the State of Texas. Click below to view the Texas licenses.

Texas Installment Loans Online: Frequently Asked Questions

How do I qualify for a loan?
To qualify for an Installment Loan in Texas, you must:
- Be at least 18 years old
- Be a US citizen or a permanent resident
- Be a resident of Texas
- Have an active bank account
- Have a regular source of income
- Have a valid contact number and an active email address
Please note that we currently do not offer credit products with rates that allow us to lend to covered members of the US armed forces and their dependents.
Is this a payday loan?
No, this is not a payday loan. A payday loan is a short-term loan where you are typically required to pay back the loan in full on your next payday. This is an installment loan, which is different because unlike a payday loan, no lump-sum payment is required. With an installment loan, you pay back the loan in installments over time until it is paid off.
Where can I find installment loans near me?
Need a loan to help with an emergency expense? You can apply for an online Installment Loan in Texas through MoneyKey without leaving your home. The process is fast, simple, and straightforward.
Can I get same day funding?
If you are approved, you'll typically get your funds the same business day*.
Can I pay my loan off early?
Paying off your loan early may reduce the total amount that you'll pay to the unaffiliated third-party lender and there’s no penalty to do so. If you’d like to make an early payment, or a larger payment to pay down more of your principal, please call us at 1-866-255-1668 or email [email protected].
I don’t live in Texas, can I still apply for an online installment loan?
You have to live in Texas to be eligible for an online Installment Loan in Texas. Whether you live in a busy city or small town in the Lone Star State, applying for online Installment Loans in Texas is easy and secure. If you live in another state, please check our rates page to see if other online loans such as Installment Loans or Lines of Credit are available in the state that you currently live in. Have more questions? Please refer to our general FAQ page or contact our Customer Care team at 1-866-255-1668.
Will I need to make an appointment to submit a request for Installment Loans online in Texas through MoneyKey?
You won’t need to make an appointment. As long as you can access the Internet, you’ll have the capacity to apply for online loans in Texas through MoneyKey when the time is right for you. To start your application, all you need to do is click here. Submitting a request for installment loans in Texas is easy and it’ll only take you minutes to complete^◆. If you’d like to receive more details on this process, you can call us at 1-866-255-1668 and someone from the Customer Care team will be happy to help you.

General Inquiries

How are online installment loans in Texas different from lines of credit?
With an installment loan, the borrower will get their funds in the form of a lump sum, which will then need to be paid back through a pre-determined series of payments over a fixed time period. Every payment you make will be made up of a principal payment as well as interest. Once you’ve made your last payment, the loan will be closed. On the other end of the spectrum, a line of credit is a type of revolving loan that will give the borrower the option of drawing as much money as they need, when they need it, up to their credit limit. You will only be charged interest and/or fees on the amount of money you’ve borrowed, and you will be required to make minimum payments won’t have to deal with fixed payment dates, although you will need to consider the deadlines set out based on your billing cycle. In the end, one of the main differences between a line of credit and installment loan is that an installment loan will give you a specific amount of funds which you’ll need to pay back on a fixed schedule. On other hand, a line of credit provides some flexibility when it comes to when you borrow funds and when you pay them back. Each option may be best suited to a different type of scenario and/or borrower, so you’ll need to figure out what suits your situation the best.
Do online loans in the form of installment loans in Texas impact my credit score?
It’s definitely possible that they could. If your payments for your online installment loans in Texas get reported to any credit bureaus, it’s possible for your credit score to be affected. Now, whether that effect is positive or negative may be determined by whether the online loan payments are being made on time or if they’re being made late. Either way, an impact on your credit score can be made. In the end, you’ll want to make sure that any payments on your Texas online loans, or any loans in general, are made on time.
Why should I consider looking into installment loans online in Texas versus in-person loans?
Are you looking for lines of credit, installments loans, or some other form of personal loan? In any case, it may be worth considering online loans in Texas. There are a number of potential benefits you might see with online loans, like:
- Speed: If you need some extra cash when dealing with an emergency expense, applying for online installment loans in Texas can be a speedier process than applying for a loan at a storefront. And when you’re trying to take care of an emergency as quickly as you can, speed is of the essence.
- Convenience: Things like location and travel time won’t be obstacles in your path when it comes to applying for online loans in Texas.
- Apply 24/7: When you work long hours, have extensive family commitments, or a day full of chores lined up, you may not have time to apply for a loan during typical business hours. With online installment loans in Texas, you can often complete your application 24/7.

Online Installment Loans in Texas

Online Installment Loans in Texas

Summary

How Texas Installment Loans Work

1. Submit Your Appllication

2 Get Approved◆

3. Get Money The Same Business Day*

Texas Installment Loan Details

Loan Amount

Cost of Loan

Term of Loan

Here are some examples:

Payment Schedule

Payment Schedule

Texas Disclosures

Fee Schedule – Common Loan Amounts

Consumer Credit Notice

State Licenses

Texas Installment Loans Online: Frequently Asked Questions

How do I qualify for a loan?

Is this a payday loan?

Where can I find installment loans near me?

Can I get same day funding?

Can I pay my loan off early?

I don’t live in Texas, can I still apply for an online installment loan?

Will I need to make an appointment to submit a request for Installment Loans online in Texas through MoneyKey?

General Inquiries

How are online installment loans in Texas different from lines of credit?

Do online loans in the form of installment loans in Texas impact my credit score?

Why should I consider looking into installment loans online in Texas versus in-person loans?

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2 Get Approved^◆

3. Get Money The Same Business Day^*