An installment loan is a medium-term loan, usually with a higher principal amount than short-term loans. It is repaid gradually in installments over 6 to 24 months. This loan may be repaid early at any time with no prepayment charges. The figures below are examples of our typical installment loan, and do not serve as guarantee of any rates and terms that you may qualify for.

Rates & Terms

Loan Amount

$300 - $3,500*

Annual Percentage Rate

199% - 499%

Loan Term

6 - 24 months*

Late Fee

5% of the unpaid installment payment or $10, whichever is less, to be assessed 11 calendar days after the installment due date

*Actual loan terms may vary based on applicant's qualifications.

What It Costs

The chart below represents illustrative examples of the $1,000 loan. Rates and terms vary based on loan amount. Please see your loan agreement for the annual percentage rate (APR) and other terms applicable to your loan. If you have any questions or would like more information, please ask. Make certain the questions that you ask are answered. Certain you the terms and costs of your loan.

If you repaid once a month, you would make eleven (11) payments of $344.12 and one (1) final payment of $344.48:

APR Finance Charge Amount Financed Total of Payments
399.85% $3,129.80 $1,000 $4,129.80

If you repaid biweekly, you would make 19 payments of $181.56 and one (1) final payment of $181.30:

APR Finance Charge Amount Financed Total of Payments
397.91% $1,360.02 $1,000 $2,360.02

With an actual installment loan, your repayment might look different than the examples above. For instance, you may be able to borrow more money, or have a longer or shorter repayment period. Or your APR might be different, affecting the total cost of credit.

If we are unable to address your questions or concerns, you can also contact your state regulatory agency:

Department of Financial Institutions
4822 Madison Yards Way, North Tower
Madison, WI 53705

Office Hours: 7:45 am – 4:30 pm
Telephone: (608) 261-9555
TTY: 7-1-1 For hearing-impaired callers
Fax: (608) 261-7200
https://www.wdfi.org