Installment Loan

The article may contain affiliate links from partners. The words, opinions, and reviews are our own. Learn how we make money to support our financial wellness mission.

An installment loan is a type of loan where you borrow a fixed amount of money at once and repay the loan over a set number of payments, referred to as installments.

Installment loans have fixed payment amounts which means how much you pay doesn’t change month-to-month. You’re required to make the fixed payments for the set period of months.

Examples of Installment Loans

  • Personal Loan
  • Auto Loan
  • Debt Consolidation Loan

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Main Menu