Online Installment Loans in Illinois
With the help of Max Cash®, finding an online installment loan with bad credit can be simple and streamlined. Whether you need funds for home repairs or other large expenses, an installment loan can be a convenient option!2 5
How to Get an Installment Loan in Illinois with Max Cash
Max Cash takes the guesswork out of finding an installment loan in Illinois.2 No matter your credit score, we’ll connect you with lenders who understand your needs and offer structured repayment plans.
Once your application is submitted, we’ll work to match you with a lender who can accommodate your unique financial situation. Whether you need emergency cash immediately or plan ahead, Max Cash is here to make borrowing easier.4 5
Easy Apply
Apply anytime 24x7 online or by phone - fast, simple, and secure.
Review Processing
We review your details and match your best option, if qualified.
Get Paid
Receive your funds fast after full approval.5
Why Illinois Residents Choose Max Cash for their Installment Loans
Max Cash has serviced over 13 million people nationwide. With real-human customer support standing by 24x7 and over a decade of experience connecting consumers to premier financial services, we are committed to striving for excellence in assisting your financial needs.
| Student Loan Debt Size | Number of Student Loan Borrowers | Average Student Loan Debt per Borrower |
|---|---|---|
| Less than $5,000 | 214,300 | $2,800 |
| $5,000 to $10,000 | 263,300 | $7,216 |
| $10,000 to $20,000 | 332,000 | $14,578 |
| $20,000 to $40,000 | 355,300 | $28,258 |
| $40,000 to $60,000 | 148,100 | $49,088 |
| $60,000 to $80,000 | 88,400 | $69,005 |
| $80,000 to $100,000 | 51,600 | $89,147 |
| $100,000 to $200,000 | 97,500 | $138,872 |
| More than $200,000 | 44,600 | $299,776 |
Speedy Funding
Looking for an installment loan with instant approval? We work hard to deliver funding fast, depending on your approval and lender’s process.2 5
Bad Credit OK
If you're searching for installment loans with no credit check, know that we’ve got your back, even if you don’t have a perfect credit history.5
Direct Funds
Max Cash connects you with direct lender installment loan options—borrow with confidence and pay back in predictable monthly installments.
Maximize Clarity with Max Cash’s Installment Loan Calculator
At MaxCash, we get that flexibility is key. Our Installment Loan Calculator gives you a clear breakdown of your monthly payments based on loan amount, tenure, and rate — helping you plan ahead with zero guesswork.
Whether it's an emergency or a big-ticket expense, use this tool to stay informed and in control.
Illinois Installment Loan
Frequently Asked Questions
Installment loans are secured or unsecured loans that you pay in equal installments (otherwise known as loan payments) over a set period of time, which is called the loan term. Paying a loan back in monthly installments can be helpful for borrowers in Illinois who need more predictability during the repayment process.
One of the biggest benefits of an installment loan is that if the monthly payment stays the same because the interest rate is fixed, you can budget for your installment payment accordingly! Examples of installment loans include auto loans, car title loans (in some cases), personal loans, and mortgage loans.
If you prefer to be prepared, you might be wondering, “What do I need to get an installment loan near me?” Generally, you must meet application criteria specific to the lender and provide the requested documentation for an installment loan in Illinois, which may differ depending on the lender in some cases. The following requirements are common when applying for an installment loan online:5
- Must be of legal age to submit a loan application as a resident of Illinois.
- Have convincing evidence of the ability to make payments on the loan (e.g., pay stubs, bank statements).
- Submit documentation to verify identity (e.g., Illinois-issued driver's license, U.S. passport).
- Provide proof of residential address in Illinois (e.g., utility bills or phone bills).
Applying for an installment loan in Illinois often involves straightforward documentation. While some lenders might request additional paperwork during the loan request, the required documents are typically easy to obtain. Proof of address, such as recent utility bills or credit card statements, is commonly requested. For identification, a Illinois-issued driver's license is frequently used, but other forms of ID, like a U.S. passport or permanent resident card, may also be acceptable. You likely have the necessary documents readily available at home or in your mailbox!
Installment loan interest rates in Illinois can differ significantly based on factors like your credit history and the specific lender you decide to work with, as the terms and conditions of your loan can vary based on the direct lender’s policies. Stronger credit scores generally translate to lower interest rates, as lenders view borrowers with good credit as having a reduced risk of defaulting on their loan obligations.
One of the benefits of getting an installment loan or payday loan online through the help of Max Cash, is that you get exclusive perks, such as competitive interest rates and convenient loan terms!2 4 5
Installment loans can be either secured or unsecured by collateral. Generally, a secured loan is a lot more flexible than an unsecured loan because the collateral works to help minimize your credit risk. That being said, having a very low credit score or no credit can make it difficult to get approved for funding, even when pledging collateral for the loan. You will need to find a lender without strict credit criteria that can cater to borrowers with bad or no credit history at all.5
It is uncommon to find installment loans with no credit check in Illinois, but you still have options if you have a poor credit score and need emergency funding to get back on your feet.5 Installment loans can be a quick funding option for borrowers with bad credit, because secured installment loans offer greater flexibility compared to unsecured options.5
Worried about your credit score? Max Cash can help you find installment loans for bad credit. Call us at 833-207-9052 24/7 to learn more or complete our quick online inquiry form anytime, day or night.2 5
Generally, it depends on the type of loan. Some small business loans are installment loans because the terms and conditions of the loan state that the repayment process is that the business will pay in equal installments. However, small business lines of credit are revolving loans, similar to how credit cards work. With a revolving line of credit, you’re allowed to borrow as much as you need (up to your available credit limit) and repay it, and then borrow it again because it is a type of revolving debt!
With an installment loan, you are expected to repay the loan in equal installments over a set period of time - unlike an online cash advance, which is typically repaid in a lump sum and on a shorter timeline.. Depending on the terms and conditions of your loan, it is possible to pay your loan in full before the expected end of the loan term. In some cases, you may be required to request a payoff letter from your lender to get the full amount owed (which can include interest or prepayment penalties if stated in your loan agreement).3
The payoff letter for the installment loan will tell you the remaining balance of the loan, how to pay, and where to send the money. The total amount owed on your loan can change based on the day, as interest may continue to accrue - that’s why it is important to have this document on hand if you plan to pay the loan in full. Before you request a payoff letter or repay the entirety of your loan, make sure to speak with your lender or loan servicer to get the full scoop on what you need to do as a borrower!
Max Cash Installment Loans Articles
