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Installment loan is a type of loan that is typically repaid over several scheduled payments that can last anywhere from 90 days to 7 years. Amounts may go as high as $40,000.
Installment loans are simply easier to repay and the popularity of installment loans has increased in 2019.
Installment loans offers longer loan terms so you can have smaller monthly payments. With a payday loan, you often have one huge balloon payment due by your next paycheck,
Most people consider installment loans a much safer option than a payday loan.
We have two lists on our website: one for borrowers with bad or good credit score that needs an installment loan.
The other list is for borrowers that are looking for a short payday loan. For borrowers with low credit score, the requirements are few and easy to meet, but the interest rates are higher compared to loans offered to those with better credit.
Borrowers with a good credit score will have more requirements to meet, but they will also have better interest rates and will save more money in the long run.
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