What Is A 3 Month Installment Loan?
An installment loan is different from a normal loan that is repaid with a single lump sum at the end of the borrowing period. Installment loans are more flexible because borrowers can spread their loan payment over a longer period of time, and thus it is easier to pay back a loan or to borrow a larger amount. Licensed online lenders provide both secured and unsecured loans with no credit check to meet your requirements.How Is A 3 Month Loan Different To A Payday Loan?
A payday loan is usually limited to borrowing money till your next payday, typically the last Friday of the month. Thus, a payday loan usually lasts between 14 to 30 days and payment is made using a lump sum. For people with low income, it can be difficult to pay back a large loan on time within a short period of time.An installment loan allows you to borrow $1,000 and slowly pay back. You will not feel squeezed with the burden of paying back the loan plus interest all at once. Paying small fixed installments allows you to plan your budget comfortably. Another advantage is that by making regular payments over many months, the effective APR is cheaper than a typical payday loan with rollover fees.
Online lenders provide convenient loans that is suitable for people with stable income or employment. You can pay back over 90 days using fixed installments on your next 3 consecutive paydays. These payments can be setup as automatic deductions from your checking account so that you do not forget or miss any due dates.
A long term loan with no credit check provides more flexibility and breathing space. you can avoid over stressing your finances trying to pay back the loan money in one lump sum at the end of the month. Making three timely installment payments for a loan can help to rebuild your credit history.
This is useful when you have an emergency cash flow problem. When you need money fast for an emergency, our licensed payday loan lenders can approve your application instantly and wire the money to your banking account directly. We are a trustworthy source to borrow $1000 for an emergency, as many customers can attest. Every procedure can be completed online within minutes, and there is no need to stand in line at your local bank, fill in lengthy documents and wait for the staff there to reject you because you have insufficient credit.
Access a brand new lending portal for consumers to find and review the loans available online. This is a free service and you can review the loan offers, rates and lending terms before deciding to take the money.
Finding a loan is simple. The application is 100% online and once you have completed the form, you will automatically be matched against our database of lenders and loan offers. We are committed to responsible borrowing so you can browse our blog for tips and guides on personal credit.
