All loans are mainly divided into two categories—installment loans and a line of credit. Online installment loans are types of loans which are repaid over time with a fixed number of installments. The duration may vary anywhere between months to 30 years. These loans are procured from an online lender as compared to a traditional banker. Following are the top options for lenders of online installment loans that you may apply for:

Discover
Discover offers loans for personal uses as well as debt consolidation apart from student loans and home equity loans. You may get an approval within minutes and also check whether you are pre-approved or not, without your credit score being affected at all. It is highly recommended for people who have a good credit and want one platform for debt consolidation.

Marcus
Marcus is a subsidiary of Goldman Sachs and is one of the best providers for online installment loans in the market. They also offer high-yield savings accounts, no-fee loans, and fixed-rate loans for you to get the best deals and offers from a reliable lender.

Avant
Avant has made over 600,000 customers happy by granting them personal loans when they were in need. The online lender does not come with a prepayment fee and has a very user-friendly application process, which gives you a quick loan approval. The loan amount offered by them ranges from $2,000 to $35,000 and the APR varies from 9.95% to 35.99%.

SoFi
SoFi is a fairly new player in the loan market. It offers loans for mortgage, education, and personal purposes too. With over 500,000 members as a part of the SoFi family and $30 billion reported as the amount for loan funding, SoFi’s process is quite fast and you may get loan rates at the ease of a click.

FreedomPlus
FreedomPlus offers personal online loans for an amount up to $35000. Their easy-to-use online portal makes it very simple for you to procure a loan within a matter of minutes.

With the advent of the Internet, everything may be done with just a few clicks, and therefore, getting an online loan is much simpler as compared to getting one from a bank. Hence, when in need, you may consider any of the aforementioned options to get an online installment loan.