An installment loan is theoretically any loan which comes in a amount that is fixed that you simply then repay plus interest and costs in regular re payments
What exactly is an installment loan?
Re re Payments are often made when a thirty days, but some lenders will assist you to spend bi-weekly or regular. Signature loans, figuratively speaking and car and truck loans are theoretically installment loans. However, many loans that loan providers relate to as installment loans are a kind of short-term loan, comparable to a pay day loan.