What exactly is an installment loan?

An installment loan is that loan this is certainly paid back over a quantity of the time with a group quantity of fixed payments that are monthly. Rates of interest on these loans and loan quantities can vary dependent on different facets including yet not limited by:

  • Your history that is financial bureaus report, fico scores)
  • The definition of of one’s loan quantity.
  • The total amount you borrow
  • The financial institution and their stipulations

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