Installment Loans in Illinois

Laws verified 2026-10-25 against official sources · How we verify

36% APR all-in cap on consumer loans; installment lenders up to $40,000. Through our network you can request offers from about $100 to $5,000; amounts, rates and terms depend on the lender and your credit.

Request a installment loan in Illinois

✓ Free to use✓ About 3 minutes✓ No obligation✓ Bad credit OK to apply

1 Choose an amount and fill out the form
2 Get matched with a lender in our network
3 Review your offer and get funded, often next business day

Tip: apply on a weekday morning for the best chance of funding by the next business day.

No hard credit inquiry on our end; lenders may check your credit. Not a lender; approval, amount and terms come from the lender. Example: $1,000 over 12 months at 35.99% APR ≈ $100.46/month.

How installment loans work in Illinois

An installment loan gives you the full amount up front and you repay it in equal monthly payments over a set term — often 3 to 36 months. Because repayment is spread out, each payment is smaller than a single lump-sum payday repayment, and you always know your payoff date.

Sample monthly payments

Amount	6 months	12 months	24 months
$1,000	$181.54	$97.48	$55.91
$2,000	$363.09	$194.96	$111.82
$3,000	$544.63	$292.45	$167.72
$5,000	$907.72	$487.41	$279.54

Illustration at 29.99% APR. Your rate and term come from the lender and depend on your credit, income and Illinois law.

$83,390

Median household income

11.8%

Residents below poverty line (approx.)

643

Credit-union branches

3,628

FDIC bank branches

Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.

Illinois installment loan rules at a glance

Governing law	Consumer Installment Loan Act (CILA), 205 ILCS 670, and Predatory Loan Prevention Act, 815 ILCS 123. (205 ILCS 670; 815 ILCS 123)
Rate cap	36% APR, calculated the all-in Military Lending Act way, on the unpaid balance of the amount financed, for loans made or renewed on or after March 23, 2021. (815 ILCS 123/15-5-5; 205 ILCS 670/15(a))
License required	Yes. Anyone in the business of making loans at more than 9% APR (except as otherwise authorized) must first get a Consumer Installment Loan Act license from the IDFPR Director of Financial Institutions. (205 ILCS 670/1)
Loan sizes covered	A CILA licensee may lend up to $40,000 in principal. (205 ILCS 670/15(a))
Origination / other fees	All fees count toward the 36% all-in APR cap. A late charge of up to 5% of the installment (installments over $200) or $10 (installments of $200 or less) is allowed after 10 days. (205 ILCS 670/15)

Estimate your monthly payment

Personal / installment loan calculator

Loan amount ($) APR (%) Term (months) Origination fee (%)

Monthly payment–

Total interest–

Total cost–

Cash you receive–

Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.

Installment Loans by city in Illinois

Chicago Aurora Naperville Joliet Rockford Elgin Springfield Peoria Champaign Waukegan Cicero Bloomington Schaumburg Evanston Arlington Heights Bolingbrook Decatur Palatine Skokie Des Plaines Orland Park Oak Lawn Berwyn Mount Prospect Tinley Park Normal Wheaton Oak Park Hoffman Estates Downers Grove Glenview Plainfield Elmhurst Lombard Buffalo Grove Moline Belleville Romeoville Crystal Lake Bartlett DeKalb Carol Stream Urbana Quincy Streamwood Park Ridge Wheeling Carpentersville Hanover Park Oswego Rock Island Addison Calumet City Northbrook Woodridge St. Charles Glendale Heights O'Fallon Elk Grove Village Mundelein Pekin North Chicago Gurnee Highland Park Algonquin Niles Galesburg Lake in the Hills Burbank Danville Glen Ellyn Lansing McHenry New Lenox Huntley Wilmette Batavia Round Lake Beach Vernon Hills Oak Forest Chicago Heights Granite City Edwardsville Lockport Woodstock West Chicago Alton Belvidere Morton Grove Zion Melrose Park Homer Glen South Elgin Collinsville Rolling Meadows Kankakee Elmwood Park Westmont Yorkville Freeport Loves Park Lisle Maywood Roselle Machesney Park Bloomingdale Villa Park East Peoria Carbondale Darien Blue Island Montgomery Geneva Park Forest Grayslake South Holland East Moline Dolton Frankfort Crest Hill Libertyville Harvey Mokena Lake Zurich Deerfield Evergreen Park Lake Forest Brookfield Homewood North Aurora Matteson Round Lake Bensenville Alsip Sycamore Ottawa Shorewood Bellwood Franklin Park Palos Hills Bourbonnais Jacksonville East St. Louis Cary Lemont Godfrey Hinsdale Cahokia Heights Charleston Bridgeview Marion Fairview Heights Morton Mattoon Westchester Country Club Hills La Grange Washington Prospect Heights Norridge Bradley Dixon Morris Macomb Antioch Warrenville Sterling Swansea Chatham Shiloh Hickory Hills Lindenhurst Beach Park Chicago Ridge Mount Vernon Wauconda Glen Carbon Midlothian Forest Park Wood Dale Channahon Hazel Crest La Grange Park Western Springs Lincoln Canton Lincolnwood Minooka Richton Park Northlake Winnetka Rantoul Effingham Streator Justice Herrin Plano Palos Heights River Forest Kewanee Centralia Troy Schiller Park Markham Pontiac Burr Ridge Fox Lake Waterloo Columbia Barrington Manhattan Pingree Grove Campton Hills Summit Gages Lake Roscoe Worth Taylorville Crestwood River Grove Riverdale Lyons Wood River Highland Winfield Mahomet

Also see: Payday Loans in Illinois · Title Loans in Illinois · All Illinois loan options

Frequently asked questions

Is there a cap on installment loan interest rates in Illinois?

36% APR all-in cap on consumer loans; installment lenders up to $40,000.

Do installment loan lenders need a license in Illinois?

Yes. Anyone in the business of making loans at more than 9% APR (except as otherwise authorized) must first get a Consumer Installment Loan Act license from the IDFPR Director of Financial Institutions.

Can I get a installment loan with bad credit in Illinois?

Yes, some lenders in our network work with fair or bad credit, but approval is not guaranteed and rates are higher. Licensed lenders in Illinois must follow the state's consumer-lending rules shown above; tribal and bank-partner lenders may follow different rules, so compare the APR on every offer.

Can I get a installment loan in Illinois with bad credit?

Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Illinois residents can see if they qualify for $100 to $5,000 in about 3 minutes.

Where can I find a loan for bad credit in Illinois?

You can apply at local banks and lenders in Illinois, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.

What credit score do I need for a installment loan in Illinois?

There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Illinois with our free 3-minute form.

How can I get an emergency loan in Illinois?

Unexpected bills happen, and an online emergency loan can help you handle them quickly. Fill out our 3-minute form with your income and bank details, and lenders in our network will review your request. Many make decisions within minutes, and approved funds are often deposited by the next business day. Amounts range from $100 to $5,000, and you're never obligated to accept an offer.