Honest Loans Installment Loans Review

Honest Loans is an online service that links those who are seeking a loan with potential lenders. The site of this provider doesn’t give much information about the history or founders of the company.

Loan Matching Best for
3 /5
$ $400 /
Min. Amount
Visit Site
Table of Contents

    What the site does provide is sufficient information about the loan application process.
    It also explains the requirements for using the service as well as the turnaround times that you can expect.

    What Does Honest Loans Offer?

    Honest Loans connects you with multiple lenders all over the country. The loan comparisons available will assist you in finding loan options with the lowest APR rate. As well as installment loans, you can take out personal loans, emergency loans, and cash advances. 

    Eligibility Criteria

    One of the benefits of using this provider is that your current credit record doesn’t eliminate your chance of getting a loan. Even customers with bad credit can get a loan; there are no credit checks before you apply.

    However, your credit will affect the APR. To be eligible to use the services of Honest Loans, you need to be 18 years or older (depending on your state laws), and you need to be a permanent resident of the USA. You also need an income of at least $800 a month after tax.

    The process requires a valid social security number, and you will have to own a checking account. You also need to be located in a state where Honest Loans operates.

    Honest Loans Pros and Cons


    • The application process is quick
    • It offers a variety of loan types
    • Bad credit is not held against you
    • It has a large network of lenders


    • It is not a direct lender
    • Seven US states are excluded from this service
    • There is insufficient information about the company on its site

    How To Apply For An Honest Loan Installment Loan?

    When you open the site, there is a list of loan amounts at the top of the screen. To begin applying, you need to select the amount you wish to borrow. 

    An application form will then appear with a status bar at the top which will inform you of your progress as you fill in your details. After that, it will take a few minutes to get approval. 

    Available loan options will then appear on your screen. When you have selected a loan offer, you will be redirected to the lender’s site. 

    The lender site will provide you with the terms and conditions of your loan contract. You will repay your installment loan in accordance with these.

    Rates, Terms, And Fees

    The rates and fees charged by this provider are directly related to the APR that the provider charges. The APR cannot be supplied by Honest Loans due to the fact that this provider is not a direct lender.

    Several factors affect the APR charged by the lending partners of Honest Loans. Some of these factors are the loan amount, repayment amount, timing of payments, and credit score.

    The APR laws in each state also vary.

    This is why it is essential to familiarize yourself with the terms and conditions of the lending partners before accepting the offer. Each lending partner’s offer differs.


    Installment loans are generally long-term commitments, and it is essential to find a loan suitable for your situation. 

    There are no fixed APR amounts that can be guaranteed by this provider. This creates an element of risk.

    For more secure lending choices, you may be better off with a company that openly displays its rates and costs, like Prosper or SoFi.