EFFICIENT
Apply in just six clicks in 60 seconds.
InstaCash Life Event Loan
INSTACASH LIFE EVENT LOAN FEATURES
Here's what you can expect.
FAST
Receive immediate automatic funding with no underwriting required.
FLEXIBLE
No credit check.
CONVENIENT
Enjoy contactless, self-service 24/7/365!
INSTACASH LIFE EVENT LOAN DETAILS
Here's how it works.
Eligibility
To qualify, you must:
Terms*
Details include:
INSTACASH LIFE EVENT LOAN INSTRUCTIONS
Here's how to get started.
FREQUENTLY ASKED QUESTIONS
Here are some answers.
- This lending product allows us to help our members get affordable small dollar loans INSTAntly! These are a more affordable alternative for members who use payday loans.
- Contactless, self-service
- Available 24/7/365
- Only six clicks in 60 seconds
- No credit check
- Immediate automatic funding and no underwriting required
- You can find the application in Digital Banking under the Loan Center menu.
- There is a $20 application fee every time, even if denied. Regulations state that fees will not be taken from the loan proceeds. Fees are taken at time of application.
- Must be a member for at least six months
- Must have a direct deposit of $500 or more monthly for at least 60 days
- Must have an active account with no charge-offs, negative balances (excluding Courtesy Pay), delinquincies, or negative warning codes
- You can qualify for loan amounts between $200-$2000. The decision engine determines the amount of the approval.
- Terms range between three and 12 months depending on the loan amount. You may choose your payment frequency and due date within 30 days of the loan date.
- No, you may make extra payments if desired, but loan terms cannot be changed.
- All InstaCash loans will have a 28% interest rate. While this may seem high, according to the Center for Responsible Lending, the average payday loan rate in Tennessee is 460%.
- No, InstaCash loans are only available to the primary member.
- Simple interest is calculated daily based on the balance.
- Yes, InstaCash loans will report to the credit bureau.
- No, these loans are not eligible for Common Sense Protection.
- No, these loans are not eligible for Skip-A-Payment.
- You may only have one InstaCash loan at a time. The current loan must be paid in full before a new loan can be approved. If you apply for a second loan, the application fee will be charged, and you will be denied. You will receive a warning about this in the application process.
- By regulation, you may only have three InstaCash loans in a six-month period.
- No, you can reapply at any time. However, you are limited to three InstaCash loans in a six-month period.
- Yes, by default, InstaCash loans are setup for automatic payments during the application process. You may request an alternative payment method.
RESOURCES
Need additional help?
*InstaCash loans are available in amounts from $200-$2,000 with repayment terms of 3-12 months, depending on the loan amount. The Annual Percentage Rate (APR) is 28.00%. Monthly payment amounts vary based on the amount borrowed and repayment term selected and will be disclosed before loan consummation. Payment Example: For a 12-month InstaCash Loan per $1,000 borrowed at 28.00% APR, estimated monthly payment is $96.51. A $20 nonrefundable application fee applies.
