Installment Loans by the Lead Expert

Emergencies often arise causing people to need cash quickly. Many individuals need quick access to money to pay hospital bills, car-towing charges, or for emergencies. These individuals often times go online for information regarding an installment loan.

An installment loan is a loan with a fixed number of payments. They are somewhat similar to payday loans but with installment loans you pay fixed payments back to the lender until the loan is completely paid off.
Some Installment Loans come with the following benefits:

• You can get up to $12,000
• Installment loans offer convenience. The reason for this is because you are able to budget wisely. You know the exact amount of your payment and the exact day that it is due.
• It doesn’t matter whether your credit rating is not perfect.
• During the repayment period, there is typically a steady decrease in the amount of interest as you make payments.
• Installment loans are readily available and easy to access

Typically, there are two types of installment Loans: Secured and Unsecured.

• Secured loans – These are offered by financial institutions against collateral.

These loans attract a lower interest rate charge as compared to the unsecured.

• Unsecured loans – To qualify for these loans, one must have an indication and proof of current employment. These loans attract a higher interest charge compared to the secured ones.