InstaCash Frequently Asked Questions
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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.
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- Contactless, self-service
- Available 24/7/365
- Only six clicks in 60 seconds
- No credit score required
- Immediate automatic funding and no underwriting required
- Builds good credit
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You can find the application in Digital Banking under the Loan Center menu.
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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.
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- Must be a member for at least six months
- Must have a Direct Deposit of $500 or more montly for at least 60 days
- Must have an active account with no charge-offs, negative balances (excluding Courtesy Pay), delinquincies, or negative warning codes
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You can qualify for loan amounts between $200-$2000. The decision engine determines the amount of the approval.
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Terms range between 3-12 months depending on the loan amount. You may choose your payment frequency and due date within 30 days of the loan date.
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No, you may make extra payments if desired, but loan terms cannot be changed.
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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%.
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No, InstaCash loans are only available to the primary member.
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Simple interest is calculated daily based on the balance.
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Yes, InstaCash loans will report to the credit bureau.
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No, these loans are not eligible for Common Sense Protection.
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No, these loans are not eligible for Skip-A-Payment.
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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.
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By regulation, you may only have three InstaCash loans in a six-month period.
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No, you can reapply at any time. However, you are limited to three InstaCash loans in a six-month period.
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Yes, by default, InstaCash loans are setup for automatic payments during the application process. You may request an alternative payment method.