A fixed installment loan is that loan that is repaid over a particular time period with a collection quantity of scheduled payments. It may be either a loan that is sagecurede.g. automotive loans, mortgages) or an unsecured loan ( ag e.g. unsecured loans, figuratively speaking).
An installment loan varies from a credit line, for example, that offers a optimum credit quantity you are able to borrow from, or pay day loans, which are usually a small amount at high rates of interest.
Regards to Installment Loans
The total amount of time or that isвЂњterm of loan depends on what is being financed. (more…)