Credit Strong
Instal accounts
Who are Instal accounts designed for?
Low Cost
Instal accounts are designed for consumers focused on ongoing, low-cost credit building. Starting at just $28 a month, Instal accounts are our most affordable option to start building your credit.
Customizable
Customize your credit building to suit your goals. Instal accounts allow you to partially prepay, payoff, or close your account at any time with no fee or penalty.
Long Run
Length of credit history comprises 15% of your FICO® Score. Instal offers a way to keep a long tradeline on your profile and consistently build up a healthy length of credit history – up to 48 months.
Constantly replacing a 12-month credit builder loan is more costly and may dip your credit score each year. Every time the 12 month loan matures it will decrease your length of credit history.
Decreasing Cost
With Instal accounts, every month your interest cost goes down and your savings progress accelerates.
The tables below illustrate interest expense vs. savings progress for Instal 28, Instal 38, and Instal 48 accounts.
Instal 28
One-time, non-refundable administrative fee: $15.00
Annual Percentage Rate: 15.61%
| Month | Monthly Payment | Monthly Savings Progress | Monthly Interest Expense | Cumulative Savings Progress | % of Payment Applied to Savings Progress |
|---|---|---|---|---|---|
| Month 1 | $28.00 | $15.55 | $12.45 | $15.55 | 56% |
| Month 2 | $28.00 | $15.75 | $12.25 | $31.30 | 56% |
| Month 3 | $28.00 | $15.94 | $12.06 | $47.24 | 57% |
| Month 4 | $28.00 | $16.14 | $11.86 | $63.38 | 58% |
| Month 5 | $28.00 | $16.34 | $11.66 | $79.71 | 58% |
| Month 6 | $28.00 | $16.54 | $11.46 | $96.25 | 59% |
| Month 7 | $28.00 | $16.74 | $11.26 | $112.99 | 60% |
| Month 8 | $28.00 | $16.95 | $11.05 | $129.94 | 61% |
| Month 9 | $28.00 | $17.16 | $10.84 | $147.09 | 61% |
| Month 10 | $28.00 | $17.37 | $10.63 | $164.46 | 62% |
| Month 11 | $28.00 | $17.58 | $10.42 | $182.04 | 63% |
| Month 12 | $28.00 | $17.80 | $10.20 | $199.84 | 64% |
| Month 13 | $28.00 | $18.02 | $9.98 | $217.86 | 64% |
| Month 14 | $28.00 | $18.24 | $9.76 | $236.09 | 65% |
| Month 15 | $28.00 | $18.46 | $9.54 | $254.56 | 66% |
| Month 16 | $28.00 | $18.69 | $9.31 | $273.25 | 67% |
| Month 17 | $28.00 | $18.92 | $9.08 | $292.17 | 68% |
| Month 18 | $28.00 | $19.15 | $8.85 | $311.33 | 68% |
| Month 19 | $28.00 | $19.39 | $8.61 | $330.72 | 69% |
| Month 20 | $28.00 | $19.63 | $8.37 | $350.35 | 70% |
| Month 21 | $28.00 | $19.87 | $8.13 | $370.22 | 71% |
| Month 22 | $28.00 | $20.12 | $7.88 | $390.33 | 72% |
| Month 23 | $28.00 | $20.36 | $7.64 | $410.70 | 73% |
| Month 24 | $28.00 | $20.62 | $7.38 | $431.31 | 74% |
| Month 25 | $28.00 | $20.87 | $7.13 | $452.18 | 75% |
| Month 26 | $28.00 | $21.13 | $6.87 | $473.31 | 75% |
| Month 27 | $28.00 | $21.39 | $6.61 | $494.70 | 76% |
| Month 28 | $28.00 | $21.65 | $6.35 | $516.35 | 77% |
| Month 29 | $28.00 | $21.92 | $6.08 | $538.26 | 78% |
| Month 30 | $28.00 | $22.19 | $5.81 | $560.45 | 79% |
| Month 31 | $28.00 | $22.46 | $5.54 | $582.91 | 80% |
| Month 32 | $28.00 | $22.74 | $5.26 | $605.65 | 81% |
| Month 33 | $28.00 | $23.02 | $4.98 | $628.66 | 82% |
| Month 34 | $28.00 | $23.30 | $4.70 | $651.97 | 83% |
| Month 35 | $28.00 | $23.59 | $4.41 | $675.55 | 84% |
| Month 36 | $28.00 | $23.88 | $4.12 | $699.43 | 85% |
| Month 37 | $28.00 | $24.17 | $3.83 | $723.61 | 86% |
| Month 38 | $28.00 | $24.47 | $3.53 | $748.08 | 87% |
| Month 39 | $28.00 | $24.77 | $3.23 | $772.85 | 88% |
| Month 40 | $28.00 | $25.08 | $2.92 | $797.93 | 90% |
| Month 41 | $28.00 | $25.39 | $2.61 | $823.31 | 91% |
| Month 42 | $28.00 | $25.70 | $2.30 | $849.01 | 92% |
| Month 43 | $28.00 | $26.02 | $1.98 | $875.03 | 93% |
| Month 44 | $28.00 | $26.34 | $1.66 | $901.37 | 94% |
| Month 45 | $28.00 | $26.66 | $1.34 | $928.03 | 95% |
| Month 46 | $28.00 | $26.99 | $1.01 | $955.02 | 96% |
| Month 47 | $28.00 | $27.32 | $0.68 | $982.34 | 98% |
| Month 48 | $28.00 | $27.66 | $0.34 | $1,010.00 | 99% |
Instal 38
One-time, non-refundable administrative fee: $15.00
Annual percentage rate: 15.73%
| Month | Monthly Payment | Monthly Savings Progress | Monthly Interest Expense | Cumulative Savings Progress | % of Payment Applied to Savings Progress |
|---|---|---|---|---|---|
| Month 1 | $38.00 | $24.47 | $13.53 | $24.47 | 64% |
| Month 2 | $38.00 | $24.78 | $13.22 | $49.25 | 65% |
| Month 3 | $38.00 | $25.08 | $12.92 | $74.33 | 66% |
| Month 4 | $38.00 | $25.39 | $12.61 | $99.72 | 67% |
| Month 5 | $38.00 | $25.70 | $12.30 | $125.42 | 68% |
| Month 6 | $38.00 | $26.02 | $11.98 | $151.44 | 68% |
| Month 7 | $38.00 | $26.34 | $11.66 | $177.77 | 69% |
| Month 8 | $38.00 | $26.66 | $11.34 | $204.43 | 70% |
| Month 9 | $38.00 | $26.99 | $11.01 | $231.42 | 71% |
| Month 10 | $38.00 | $27.32 | $10.68 | $258.74 | 72% |
| Month 11 | $38.00 | $27.66 | $10.34 | $286.40 | 73% |
| Month 12 | $38.00 | $28.00 | $10.00 | $314.39 | 74% |
| Month 13 | $38.00 | $28.34 | $9.66 | $342.73 | 75% |
| Month 14 | $38.00 | $28.69 | $9.31 | $371.42 | 75% |
| Month 15 | $38.00 | $29.04 | $8.96 | $400.46 | 76% |
| Month 16 | $38.00 | $29.40 | $8.60 | $429.86 | 77% |
| Month 17 | $38.00 | $29.76 | $8.24 | $459.62 | 78% |
| Month 18 | $38.00 | $30.13 | $7.87 | $489.75 | 79% |
| Month 19 | $38.00 | $30.50 | $7.50 | $520.25 | 80% |
| Month 20 | $38.00 | $30.87 | $7.13 | $551.12 | 81% |
| Month 21 | $38.00 | $31.25 | $6.75 | $582.37 | 82% |
| Month 22 | $38.00 | $31.64 | $6.36 | $614.00 | 83% |
| Month 23 | $38.00 | $32.02 | $5.98 | $646.03 | 84% |
| Month 24 | $38.00 | $32.42 | $5.58 | $678.45 | 85% |
| Month 25 | $38.00 | $32.82 | $5.18 | $711.26 | 86% |
| Month 26 | $38.00 | $33.22 | $4.78 | $744.48 | 87% |
| Month 27 | $38.00 | $33.63 | $4.37 | $778.11 | 88% |
| Month 28 | $38.00 | $34.04 | $3.96 | $812.15 | 90% |
| Month 29 | $38.00 | $34.46 | $3.54 | $846.61 | 91% |
| Month 30 | $38.00 | $34.88 | $3.12 | $881.50 | 92% |
| Month 31 | $38.00 | $35.31 | $2.69 | $916.81 | 93% |
| Month 32 | $38.00 | $35.75 | $2.25 | $952.56 | 94% |
| Month 33 | $38.00 | $36.19 | $1.81 | $988.75 | 95% |
| Month 34 | $38.00 | $36.63 | $1.37 | $1,025.38 | 96% |
| Month 35 | $38.00 | $37.08 | $0.92 | $1,062.46 | 98% |
| Month 36 | $38.00 | $37.54 | $0.46 | $1,100.00 | 99% |
Instal 48
One-time, non-refundable administrative fee: $15.00
Annual percentage rate: 15.51%
| Month | Monthly Payment | Monthly Savings Progress | Monthly Interest Expense | Cumulative Savings Progress | % of Payment Applied to Savings Progress |
|---|---|---|---|---|---|
| Month 1 | $48.00 | $36.36 | $11.64 | $36.36 | 76% |
| Month 2 | $48.00 | $36.78 | $11.22 | $73.14 | 77% |
| Month 3 | $48.00 | $37.21 | $10.79 | $110.34 | 78% |
| Month 4 | $48.00 | $37.64 | $10.36 | $147.98 | 78% |
| Month 5 | $48.00 | $38.08 | $9.92 | $186.06 | 79% |
| Month 6 | $48.00 | $38.52 | $9.48 | $224.59 | 80% |
| Month 7 | $48.00 | $38.97 | $9.03 | $263.56 | 81% |
| Month 8 | $48.00 | $39.42 | $8.58 | $302.98 | 82% |
| Month 9 | $48.00 | $39.88 | $8.12 | $342.87 | 83% |
| Month 10 | $48.00 | $40.35 | $7.65 | $383.21 | 84% |
| Month 11 | $48.00 | $40.82 | $7.18 | $424.03 | 85% |
| Month 12 | $48.00 | $41.29 | $6.71 | $465.33 | 86% |
| Month 13 | $48.00 | $41.77 | $6.23 | $507.10 | 87% |
| Month 14 | $48.00 | $42.26 | $5.74 | $549.36 | 88% |
| Month 15 | $48.00 | $42.75 | $5.25 | $592.11 | 89% |
| Month 16 | $48.00 | $43.25 | $4.75 | $635.36 | 90% |
| Month 17 | $48.00 | $43.75 | $4.25 | $679.12 | 91% |
| Month 18 | $48.00 | $44.26 | $3.74 | $723.38 | 92% |
| Month 19 | $48.00 | $44.78 | $3.22 | $768.16 | 93% |
| Month 20 | $48.00 | $45.30 | $2.70 | $813.46 | 94% |
| Month 21 | $48.00 | $45.83 | $2.17 | $859.29 | 95% |
| Month 22 | $48.00 | $46.36 | $1.64 | $905.65 | 97% |
| Month 23 | $48.00 | $46.90 | $1.10 | $952.55 | 98% |
| Month 24 | $48.00 | $47.45 | $0.55 | $1,000.00 | 99% |