MoneyKey Installment Loans
| Community Rating | Mostly not recommended |
| APR (Fixed APR) |
270% - 299% (Verified 07/07/2022)
|
| Loan Amount | $200 - $2,000 |
| Loan Term (Months) | 6 - 12 months |
| Number of Reviews | 78 |
MoneyKey Installment Loans Review
MoneyKey Installment Loans is offered by MoneyKey Inc., a direct lender founded in 2011 and based in Wilmington, DE. MoneyKey Installment Loans is available in 7 states across the USA.
Key Takeaways
- APRs starting at 270%. Personal loan interest rates typically range between 5% and 36%. The starting rates for MoneyKey Installment Loans are on the higher end of the spectrum.
- Fast access to funds. In some cases, you can get your money within 1 business day*.
- Small-dollar loans. MoneyKey Installment Loans has a maximum loan amount of just $2,000.
- No origination fee. MoneyKey Installment Loans does not charge a loan origination fee.
- No late fees. Missing a payment can seriously damage your credit, but MoneyKey Installment Loans will not charge additional fees if you miss the due date on a payment.
- Short loan terms. MoneyKey Installment Loans have loan terms as short as 6 months.
MoneyKey Pros & Cons
| Pros | Cons |
|---|---|
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MoneyKey FAQ
What interest rates and personal loan terms does MoneyKey offer?
MoneyKey has higher than average interest rates for lenders reviewed on SuperMoney.
What interest rates does MoneyKey offer?
MoneyKey offers a fixed APR personal loan product that ranges from 270% APR up to 299% APR.
How much can you borrow via MoneyKey?
Business loan amounts start at $200 and go up to $2,000.
What is the maximum loan term you can get with MoneyKey?
MoneyKey offers loans with terms of up to 12 months.
| Personal Loan Amount | $200 - $2000 |
| Loan Term | 6 - 12 months |
| APR | 270% - 299% |
What fees does MoneyKey charge?
Does MoneyKey charge an origination fee?
MoneyKey does not charge a personal loan origination fee.
A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does MoneyKey charge a late fee?
No, MoneyKey will not charge you a late fee if you miss one of the monthly payments.
Does MoneyKey charge prepayment fees?
No, MoneyKey does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | No |
| Prepayment Fee | No |
| Late Payment Fee | No |
What do you need to qualify for MoneyKey Installment Loans?
Applicants with a credit score of at least 350 and up to 350 may be eligible for MoneyKey Installment Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.MoneyKey Installment Loans does not have or does not disclose a minimum annual income eligibility requirement. MoneyKey Installment Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the MoneyKey Installment Loans product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by MoneyKey Installment Loans. Permanent resident / green card holders are also eligible to apply. Not all companies will work with visa holders. MoneyKey Inc. does offer its services to temporary resident visa holders such as F1 or H1B holders.
To qualify, applicants may need to provide the following documentation:
- Proof of income
| Minimum Age | 18 |
| Bank Account Required? | No |
| Application Types Accepted |
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| Credit Score | 350 |
What is the estimated funding time for a personal loan via MoneyKey?
MoneyKey will typically approve (or deny) a loan application within 24 hours and fund loans within 1 business day of approval.
Does MoneyKey Installment Loans report your account activity to credit bureaus?
Yes, MoneyKey Installment Loans reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
Is MoneyKey Inc. a legit company?
MoneyKey Inc. was founded in 2011, it is a well-established company that has been in business for 11 years. MoneyKey Installment Loans are mostly not recommended by SuperMoney community users.
Message From MoneyKey
Contact
- Headquarters
-
1000 N West St Suite 1200
Wilmington, DE 19801 USA - (866) 255-1668
- Visit Site
- Email Support
Other Services by MoneyKey Inc.
Availability
- Delaware
- Idaho
- Missouri
- Mississippi
- Texas
- Utah
- Wisconsin
Feature Breakdown
| No Late Fees | |
| No Origination Fee | |
| No Prepayment Fee |
MoneyKey Installment Loans Community Reviews
Would you recommend MoneyKey Installment Loans to your friends?
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