How Installment Loans Work
Installment loans can be a lifeline for people in dire financial circumstances. But, before taking out such loans, reviewing the terms and conditions is essential. Personal installment loans typically offer lower interest rates than payday loans and can help borrowers build their credit scores. They also come with flexible repayment terms and are easier to manage.
Rates
Installment loans can be obtained longer than payday advances, providing borrowers with a more manageable repayment plan. Borrowers can use these loans to pay for personal expenses, important purchases and emergencies. They can also use a fixed interest rate to help with budgeting. Unlike secured loans, where the borrower puts up collateral such as their car (with title loans), unsecured loans like those offered by M...