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 12 states across the USA.

Key takeaways

• Fast access to cash. In some cases you can get your money within 1 business day.
• Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 300 are considered for MoneyKey Installment Loans.
• Hard credit pull required. You can't check your rates or see if you prequalify for MoneyKey Installment Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
• 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 offers loan terms as short as 5 months. Most personal loans have a minimum term of 12 to 36 months.

MoneyKey Installment Loans Pros and Cons:

What rates and terms does MoneyKey Installment Loans offer?

MoneyKey Installment Loans has higher interest rates than the average for lenders reviewed on SuperMoney.

What fees does MoneyKey Installment Loans charge?

What do you need to qualify for MoneyKey Installment Loans?

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.

To qualify, applicants may need to provide the following documentation:

• Applicants must have an active and valid personal checking account
• Recent pay stubs
• Proof of income

What is the estimated funding time for a personal loan via MoneyKey Installment Loans?

MoneyKey Installment Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 2 business days of approval.