Installment Loans
Installment loans are very similar to personal loans in that its a lending product that enables consumers to quickly acquire money needed to pay for immediate unexpected expenses. Installment loans are repaid over time based upon a set number of scheduled payments, instead of one lump sum like a personal loan.
Installment loans are able to provide consumers with larger loan amounts than personal loans. However, because the loan amounts are usually much larger, they typically require higher qualifications. Just like personal loans, installment loans can be done all online and cash can be deposited within 24 hrs.
Installment loans are growing in popularity because they have a fixed repayment schedule and can offer a way to avoid excessive late fees, reconnect fees, and other penalties against your personal accounts.
Installment loans generally have these features:
- Loan amounts from $300 to several thousand dollars. Principal, interest and other finance charges (fees, credit insurance premiums) are repaid in fixed monthly installments.
- Installment loans can be renewed every few months, with a new charge of interest, fees, and credit insurance premiums. Renewal is sometimes accompanied by a small "payout" representing some of the principal already paid off in previous installments. The loan amount typically resets to the original amount borrowed, or is increased.
- Installment loans are typically unsecured. Instead of securing the loan with collateral, the lender assesses the borrower’s ability to repay the loan based on the information collected in the application.
- Available to U.S. citizens over over 18 yrs old with proper identification.
Short-term installment payday loans are typically unsecured. The lender assesses the borrower’s ability to repay the loan based on the information submitted on the application.
Please visit the following ConnectFinance resources for information on other types of online cash loans.
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A "personal loan" is a financial product that provides consumers with a low amount, short-term cash loan. These loans are typically 2-3 weeks in duration and are not based on the borrower’s credit. Using a simple application, like the one on this website, personal loans provide borrowers with a financial option for quickly acquiring the money they need to cover small unexpected expenses.
Installment loans are very similar to online personal cash loans in that it's a lending product that enables consumers to quickly acquire money needed to pay for immediate, and often, unexpected expenses. However, an installment loan is repaid over time based upon a set number of scheduled payments, instead of one lump sum like a personal cash loan.
Auto title loans, also referred to as car title loans or cash title loans, are a type of secured loan where the borrower can use their vehicle title as collateral. Borrowers must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for the loan.
A line of credit loan is an online cash loan where credit is extended to individuals to be used as needed over a period of time. It uses a debit card to provide the credit, which the consumer uses for purchases.
A line of credit loan is an online cash loan where credit is extended to individuals to be used as needed over a period of time. It uses a debit card to provide the credit, which the consumer uses for purchases.
