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What is an installment loan? How does an installment loan work?

Texas installment loans available online through Net Pay Advance

People know Net Pay Advance is the go-to trusted provider for the best online payday loan options in Texas. For fast cash, an online payday loan or installment loan from Net Pay Advance can help.

We offer two types of no credit check loans — single-pay payday advance loans and installment loans. Each is built to fit your needs. Learn more about our loan options.

Interested in a payday loan? Learn more information about our online payday loans.

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What is an installment loan?

An installment loan is a personal loan that’s paid back in individual payments. Each payment is known as an installment, hence the name installment loan. This type of loan is repaid with regularly scheduled payments over a set period of time. In our case, it’s 180 days.

Installment loans are quite common. Mortgages, auto loans, and student loans are all types of installment loans. An installment loan traditionally allows you to borrow more money than a single-pay loan. For our customers in Texas, eligible borrowers may access up to $1,500 through an installment loan.

Why choose an installment loan?

How do installment loans differ from single-pay payday loans?

How does an installment loan work?

Online installment loans allow you to borrow a larger sum than a traditional personal loan. You then pay down the total in fixed payments, rather than all at once. This allows you to budget the amount owed every month.

Payments include the amount borrowed (also called the principal amount), plus interest. How much you pay is determined by the loan amount, plus the length term and interest rate. These variables are fixed, meaning they stay constant throughout the lending process. Additionally, you will pay a CAB fee, which compensates us for obtaining a third-party loan for you. It’s usually a percentage of the principal loan amount.

No credit check is required for an installment loan through Net Pay Advance. Because no credit check is required, it’s easy to get approved for funds from an installment loan. Installment loans are liked for their simple approval process, as compared to a credit card or traditional loan.

How fast is the approval process for an installment loan?

How quickly are the funds deposited?

How does repayment of an installment loan work?

How much does an installment loan cost?

There is no predetermined fee set for an installment loan. Interest rates are dependent on the principal amount and the term length of the loan. Installment loans are fixed-rate, meaning the interest rate stays the same throughout the loan term.

Payments include the amount borrowed, plus interest. A payment is deducted automatically every payday over the course of up to 180 days, or until the payoff total is reached. The core components of your payment stays consistent, making it easy to budget.

Am I eligible for an installment loan?

Installment loans are available to applicants with no credit check required. Instead, Net Pay Advance requires that applicants meet a set criteria.

Please note that the criteria above is required to apply and does not automatically qualify or guarantee approval of a loan.

Applications process quickly online through Net Pay Advance. Applicants may have access of up to $1,500, with positive payment established. Unlike others, installment loans from Net Pay Advance do not require (nor accept) collateral.

Installment loans differ from traditional payday loans in that they do affect credit history. Responsible lending with an installment loan may positively affect and boost your credit score. However, no credit check is required for an installment loan through Net Pay Advance.

Does an online installment loan require a credit check?

How can I get an installment loan online?

Net Pay Advance makes getting an installment loan online quick and simple. To get started, visit Net Pay Advance and follow the application instructions. Our application process takes a few minutes, and you may have a decision as quickly as the same day.

Can I apply from my phone?

When will my loan application be approved?

What are the terms of an installment loan?

Installment loans differ from traditional payday loans in a number of ways. One in particular is the pay schedule for an installment loan is set up for a duration of up to 180 days, instead of a singular transaction.

Additionally, borrowers can pay down an installment loan ahead of schedule. Paying off an installment loan before the end of the term can help save interest. There are no penalties for paying off an installment loan early, should you have the funds to do so. But there is no obligation to pay above your scheduled payment amount.

Borrowers may receive a five-day payment extension throughout the loan. Beyond that, a late fee may be assessed. There is a $7.50 late fee assessed on the 11th day past due, and one will be assessed for every statement more than 10 days past due. Additionally, a returned check due to insufficient funds will result in a $30 charge.

Is an installment loan right for me?

Installment loans are flexible and are easily tailored to the borrower’s pay schedule. Net Pay Advance works to establish a loan length and loan amount that best matches our borrowers. Then, we align it with the borrower’s pay schedule so nothing is unexpected.

An installment loan offers financing without credit checks necessary with personal loans or credit financing, like a credit card. With an installment loan, you can keep cash on-hand for other purposes instead of tying up all your funds at once. Installment loans can help pay down a large expense, like a medical bill. Installment loans enable borrowers to have a predictable payment amount that they may budget.

How does the repayment schedule work?

About Net Pay Advance

Net Pay Advance is an online personal loan provider, founded by Brian J. Staver in 2007. Our organization is designed to utilize secure technology to help others financially. Today, we stick to the same three missions we had from the start.

  • Simple procedures
  • Secure operations
  • Trusted staff

At Net Pay Advance, our No. 1 priority is helping you, the customer, get access to the cash you need, quickly. People borrow from us to cover their expenses before their next paycheck comes. Then they pay us back when they’re next paid. Net Pay Advance provides cash assistance with no credit check required.

Thousands join our community every day and break free from financial stress.

When you lend with Net Pay Advance, you get the secure, trusted reliability of an organization recommended by 6,000-plus and counting. See why Net Pay Advance is the highest-rated online short-term lender on Trustpilot. Plus, we’re accredited by the Better Business Bureau, where we have an A rating.

Disclaimer: Installment loans are only available to residents of Texas. Net Pay Advance is a licensed credit access business. Installment loans are provided by a third-party lender.




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Customer Notice: Short-term advances should be used for short-term financial needs only, not as long-term financial solutions. Customers with credit difficulties should seek credit counseling.

Short-term Loan 14-day APR Range: 391.07% - 664.29% APR varies per state regulations. View Rates and Terms to view the APR in your State. Failure to make timely payments may result in NSF or late fees. If your account becomes severely delinquent, it may be turned over to a 3rd party collection agency which could impact your credit score. Loans do not automatically renew without prior approval. If you renew or "rollover" your loan, your principal balance may not be reduced and you will owe additional fees and/or interest.

Net Pay Advance, Inc. is licensed by: the California Department of Financial Protection and Innovation pursuant to the California Deferred Deposit Transaction Law; The Texas Office of the Consumer Credit Commissioner pursuant to Chapter 393 of the Texas Finance Code: Credit Services Organizations; and The Office of the Kansas State Banking Commissioner pursuant to The Kansas Uniform Consumer Credit Code.