Loans from
$300 – $5,000

Repayment term
4 – 24 Months

Minimum credit score
No min. to apply

The figures provided are representative of a typical installment loan made or arranged by CreditNinja and are not guaranteed rates or terms that you may qualify for.

By CreditNinja
Modified on March 22, 2024

Covering an area of just 1,214 square miles, Rhode Island is the smallest state in the United States. Being a border state to New York, Rhode Island offers its 1,069,725 residents the best benefits of both a big city and a small-town state.

Budding with history and culture, Rhode Island stakes a claim to fame in kicking off the Industrial Revolution era that began in the late 1700s. The development and creation of a cotton mill powered by water created by inventor Samuel Slater happened in Rhode Island’s own Pawtucket.

Are you currently living in Rhode Island and need some extra cash? When you need help paying for bills or unexpected expenses, rest assured knowing that personal loan options are available. Payoff debt, build your savings, and achieve financial success with the help of a personal loan!

But before you dive into your loan, you may want to learn about your different funding options. Learn everything you need to know here about the different types of loans available for Rhode Island residents!

What Are Personal Installment Loans in Rhode Island?

Personal installment loans are a type of financial aid available to a vast range of people. Some forms of funding, like bank loans, usually only offer convenient options to individuals with good or flawless credit. A personal installment loan is different because options are available for people despite poor credit standing or financial history.

Besides being a versatile form of funding, personal installment loans can come with other benefits like:

  • Quick approval
  • Easy application
  • Flexible payback plans
  • No balloon payments or prepayment penalties
  • Bad credit ok
  • Past bankruptcy ok

What Can I Do With a Rhode Island Personal Loan?

There are many personal loan options available in Rhode Island to cover various financial needs. Whatever you need help paying for, a personal installment loan has your back! Check out just a few examples of what you can do with a Rhode Island personal loan.

Pay for Car Repairs

For many people, a vehicle is their primary source of transportation. Every day, thousands of people in Rhode Island use their cars to travel to and from work, around town to run errands and other personal uses. So, when your car breaks, you need it fixed ASAP.

Consolidate Credit Card Debt

For many Americans, credit card debt is a major issue. Since credit cards are a revolving line of credit, it is easy to rely on money from a credit limit to cover monthly expenses. But, if you don’t pay off your credit card balances, your total amount due can just keep piling up. In order to achieve financial success, you want to reduce your accumulated debt.

Catch Up on Past Due Bills

When life gets busy, it’s easy to let simple things like a phone bill slip by. But, if you miss or neglect too many payments, you may have to deal with inconveniences like your phone being shut off or your credit score taking a hit.

Pay for Home Improvement

If you are a homeowner, you know how stressful it can be when your house needs repairs. Problems like a broken water heater, leaky roof, or unstable foundation can be a danger to you and your family if left unaddressed for too long.

What Kind of Interest Rate Comes With Personal Loans in Rhode Island?

The interest rate on a loan is determined by many factors and are subject to change depending on the product and laws of the state. Before you decide to get any kind of loan, it is important to understand what interest rates are and how they can affect your borrowing experience.

Interest rates are additional fees charged by lenders. The profits earned by interest payments help lenders grow and gain the capacity to lend higher loan amounts to more people.

Generally, there are two distinct types of interest associated with personal loans in Rhode Island. Those types of interest are fixed or variable rates. With fixed-rate loans, the interest charges remain consistent throughout the life of the loan and do not change. Alternatively, the interest charges on variable rate loans may change from month to month. These changes are based on the market, the borrower’s credit, loan type, and a few other factors.

Generally, lenders will ask borrowers if they prefer a fixed or variable rate during the approval process. How do you know if a loan with variable or fixed rates is right for you? First, think about your financial situation and what you want your loan payments to look like. If you are working to improve your financial habits, a consistent fixed rate may work best for you. That way, you can plan your finances ahead of time to ensure you are staying on track. But, if you can handle a fluctuation in your monthly installments and would like to save money on some payments, you may want to go with a loan with variable rates.

Top Cities in Rhode Island

People living in Rhode Island dealing with a financial emergency can turn to personal loans to cover their expenses. Rest easy knowing your finances are taken care of with a Rhode Island personal installment loan! Here are a few of the most popular places you can find funding in Rhode Island:

  • Providence
  • Cranston
  • Warwick
  • Pawtucket
  • East Providence
  • Woonsocket
  • Cumberland
  • Coventry
  • North Providence
  • South Kingstown

What Are the Different Ways To Borrow Money in Rhode Island?

Want to know more about some of the different ways to borrow money in Rhode Island? Check out some of the ways you may be able to obtain funds in Rhode Island.

Payday Loans

A payday loan is a short-term, high-interest form of funding. Payday loans usually only offer a minimum loan amount. So, if you are looking for money to cover a larger long-term expense, you may want to consider another loan option. Another reason payday loans are not well suited as long-term loans is because of their interest rates. Unless you pay back your entire loan within two weeks or less, you may notice your monthly payment start to skyrocket due to the high rates on payday loans.

Credit Union Loans

Credit unions are a unique kind of lender that caters to a specific group of people. Credit unions are so unique that they are owned by the borrowers, which means that members can enjoy special perks you may not be able to find with big banks or traditional lenders. But, since credit unions cater to such a niche group of people, they often do not offer online banking options. They may require borrowers to visit a brick-and-mortar store in person every time they want to make a transaction.

Cash Advance

You may be able to get a cash advance from your credit card or employer. Most credit card issuers offer account owners the ability to withdraw funds up to their credit limit each month. But, if you don’t have a credit card already, you won’t be able to utilize this funding method. You may also ask your employer for a cash advance to get you by until the next time you get paid, but this option should only be for extremely dire financial emergencies.

Car Title Loan

If you are the owner of a qualifying vehicle, you may be able to utilize a car title loan. With title loans, the borrower’s vehicle title serves as collateral to secure the funding. That means if you neglect to pay back your title loan or miss a payment, the lender may repossess your vehicle.

What Will a Personal Installment Loan Do To My Credit?

Do you understand your credit score? Your individual credit worthiness plays a significant role in determining the kind of loans you qualify for. If you are looking to improve your credit, a personal installment loan may be just what you need! Set yourself up for financial success by getting a loan designed to give you convenient monthly payments and competitive rates.

If you have a poor credit history, you may have difficulty finding approval for a minimum loan amount. Or, if you do get approved, perhaps you weren’t offered the lowest rates you were looking for. This is because many lenders will disregard applicants who have an abundance of flaws on their credit reports or low scores in general during the credit approval process. Thankfully, lenders for personal loans are different.

Instead of ruling out people with less than perfect credit, personal lenders offer many different loan products to fit various financial needs. That way, borrowers can receive reasonable terms and affordable rates to pay back over time. Lenders are open to adjusting payback terms to accommodate your needs, so you don’t have to worry about staying on top of every single monthly payment. Once your loan balance is taken care of, you may even notice an increase in your credit score!

Suppose you are serious about boosting your credit score. In that case, you may want to do a soft credit check every month to assess your situation. A soft credit check doesn’t go on your credit report, so you can run them as often as you like without putting your credit at risk. Many banks and credit card accounts offer online banking options where users can view their credit score, along with any behaviors that may be considered positive or negative by credit reporting agencies.

When you are familiar with your credit reports, you can quickly identify any harmful financial habits you may have and adjust your behavior accordingly. For example, credit reports will record actions like making payments late or not at all as negative. They will notate that this behavior as causing an individual’s credit score to drop. Suppose you see this notation on your report right away. In that case, you can make an effort to pay your bills on time moving forward before the behavior affects your credit too much.

What Do I Need to Get Rhode Island Personal Loans?

When you apply for a personal loan, your lender will first ask you to fill out a brief application form with a bit of personal information. After you have completed your online application, your lender will reach out to discuss your approval. Next, they will most likely ask for a few pieces of documentation to confirm your info. The good news is you probably have these everyday documents lying around your home right now.

It may be a good idea to gather your documents before submitting your online application. The sooner you send in your documents, the sooner you could get your money! Here is what you will need:

Government-Issued Photo ID

Your lender will require a government-issued form of identification to confirm your identity. Rhode Island residents may use common IDs for a personal loan: a driver’s license, passport, state-issued ID, or United States military ID.

Proof of Income

Your lender will also require proof of income to confirm you have the incoming funds to cover your loan. While RI residents may use a pay stub, Bank statement, or tax statement to show the income from their regular nine-to-five job, there are also options if you happen to be laid off or unemployed. Income such as unemployment, disability, court-ordered payments, or social security benefits may be used to prove income for a personal loan, depending on your lender.

Proof of Residency

To prove you live in the state of Rhode Island, lenders will require proof of residency. Laws and regulations regarding loans and lending may vary state-to-state. Therefore, to make sure your lender follows the correct rules and regulations for your area, they need proof of an applicant’s residency status.

You can prove residency with documents like a rent agreement, mortgage statement, utility bill, or most other formal documentation with your name and address on it.

Bank Account Information

Many lenders require bank account information so they can send your approved loan funding via direct deposit. You can go to your local bank or your online account to view your routing number and account number. In addition to your bank details, lenders may also ask for your social security number.


Some, but not all, lenders require their applicants to include references. For a personal loan, lenders will typically accept personal or professional references, so be sure to ask the people who know you best!

CreditNinja Personal Loans: Fast and Affordable Financial Relief for Rhode Island Residents

Financial success is just around the corner with the help of a CreditNinja personal installment loan! Get the money you need today with a reliable and experienced lender. Check out some of the fantastic benefits you can take advantage of when working with CreditNinja.

Quick Funding

Don’t wait around filling out endless paperwork and attending boring meetings when going through a financial emergency. CreditNinja allows you to apply, send in your documents, and receive your money as soon as the same or the next business day!

Flexible Terms

Customize your payback terms and create a payment plan that fits your unique situation. When your monthly payment is convenient and manageable, you don’t have to stress and worry about keeping up with your loan installments.

Discreet Online Process

With mobile banking options available, you don’t even have to leave your home to get a personal installment loan with CreditNinja. You can apply, send in documents, and receive money via direct deposit from the comfort of your living room couch.

Competitive Rates

CreditNinja wants to help you reach your financial goals, which means setting you up with interest rates that work for your budget. During the approval process, work with your lender to discuss what kind of rates you are looking for on your loan.

Superior Customer Service

Expert loan agents are waiting by the phones who work hard to help you every single day of the workweek. If you have a question or need some assistance on the weekend, all you have to do is contact us, and an agent will get back to you first thing on Monday!

Free Financial Tools and Services

Check out the CreditNinja blog to gain access to debt calculators, financial resource articles, and other tools that can help you get your budget and savings in order once and for all!

Visit the secure CreditNinja website and find out how much money you qualify for today!

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