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What is an Installment Loan?

Generally speaking, if you borrow a certain amount of money from a financial institution or a bank and use it for personal rather than commercial needs, you get a personal loan. Borrowers have to pay a certain sum of money as a deposit, which is considered as a commission fee or origination fee so that a client could make a payment within a certain period, e.g. over more than one year.

In case of installment loans, applicants shouldn't be afraid of having bad credit or bankruptcy. The application procedure is rather fast and tension-free and you can obtain cash in a very short span of time.

How much can you obtain? Online installment loans are usually up to as much as $5,000 and can be used either for any medical or financial emergency and entitle you to repay them by installments.

Online service advantages:

  • apply for as much as $5,000
  • no paper work and no need to wait in long lines
  • application is submitted from the comfort of your home
  • the cash is deposited directly to your bank account
  • confidentiality and security are guaranteed

Is there any difference between Payday Loans and Personal Installment Loans?

Yes, there is a slight difference between these types. In case of payday ones, the time provided for the repayment is usually shorter than for personal installment loans. Secondly, interest rates are a bit higher and are supposed to be paid back as a single sum on the day you get your paycheck, whereas installment loans are allowed to be repaid within a much longer period and by installments. You can calculate your terms of credit using a personal loan calculator before you agree to the lender's terms and conditions.

Can bad credit prevent me from getting a personal loan?

By no means. Unlike credit cards or payday advance, unsecured personal loans may be resorted to by clients with bad credit history. Personal loans may be paid back in a more convenient mode and rather often require lower interest rate. The main advantage of installment loans is that the borrower's payment history might be reported to credit reporting institutions, which, in its turn, might improve the client's credit rating if he or she makes payments on time.

Taking better control of your finances

There is one more point you can benefit from. Since you have to pay back every month by equal installments, there is no need to pile debts on debts. Nevertheless, in case your monthly payments are not big enough, there might be a danger of an endless debt hanging over you. If you want to take control of your finances and have a credit card debt you need to pay off every month, hadn't you better consolidate it with your small personal loan? This approach is sure to help the borrower manage his finances in a more efficient way.

How to qualify and apply for an Installment Loan ?

As we have mentioned above, there is no traditional credit check and impeccable credit history to be qualified is not a must. A short list of requirements to be qualified looks as follows:

  • a valid checking account for electronic transfers
  • a valid phone number to accept calls
  • a working email address
Other requirements are:
  • an applicant has to be a US citizen and be at least 18 years old
  • an applicant has to provide employment details and have a reliable source of income
Having submitted this information, a client, in case his request is approved, is entitled to obtain up to as much as $5000. It goes without saying that we guarantee security and confidentiality to all our clients.

We are available online.

If you fall short of cash and are looking for financial assistance, we are always ready to give you a helping hand. We deal with only reliable lenders and our clients can always expect us to provide them with the requested amount of cash in no time at all.

Getting personal installment loans online can be highly beneficial when you cannot repay money straightaway. In other circumstances, you can apply for short term loans in order to control your personal finances.

Whenever you need to avail your cash instantly and to get the best deal when you run out of cash - we are ready to find the best solution to your problem.

Material disclosure
This site does not operate as a lender and do not make any credit decisions at InternetPaydayLoans.net. The main purpose of our website is to accept loan applications and then forward it to potential lenders. Lenders are solely accountable and responsible for loan transactions and their conformity with applicable USA regulations and laws.

In order to determine the level of your financial standing and creditworthiness participating lenders may carry out a credit check. There is no guarantee that every potential client will be matched with a lender neither there is a guarantee he or she will obtain a payday loan. The primary function of InternetPaydayLoans.net is to share the information you submit with third parties, members of lending institutions and third party lenders including.

Providing personal information through our site, a client agrees to its Privacy Policy and Terms and Conditions. The states whose residents are not entitled to payday loans are as follows: Arkansas, New York, Vermont and West Virginia. The list of states whose residents are eligible to apply to payday loans may change without prior notice.