With An Installment loan Payback Is Easy
Need a not-so-short-term loan? Try an installment loan!
No Credit Checks or Faxing Required!
Are you facing a financial emergency but don’t think you’ll be able to pay back the full amount that you need on your next payday? An installment loan is a great option for you.
With installment loans, you get all of the benefits of a payday loan. You’ll get your cash quickly, and you can qualify for up to $1,500. An added benefit is that you can make payments on your loan instead of taking the full amount out of your next paycheck.
How it works with an installment loan
You can apply for installment loans right here, through Personal Money Store. You can apply, get approved and arrange to have your cash deposited directly into your bank account, and you can do it all online! There’s no credit check, no faxing and no phone calls.
With payday loans, you agree on a date with your lender to repay the full amount of your loan plus your service fees. With an installment loan, you can set up a payment plan instead.
You still get cash fast
Even though installment loans give you extra time to pay back your loan, you can still get your cash in as little as two hours. The application process is the same, and you can be approved in just minutes.
After you agree to the terms of your loan, your cash will show up in your bank account in a couple of hours.
Still short-term
Installment loans aren’t meant for people who will need years to pay off the money they borrow. An installment loan is a short-term loan. You’ll need to start paying your loan back in two weeks.
If you need a large amount of money, such as a car loan, you’ll be better off getting a traditional loan from a bank. If you will need more than a few months to pay off the amount you need to borrow, an installment loan is probably not the right choice for you. Payday lender fees go up based on the amount and term of your loan.
Stick to the installment plan
It’s important, if you take out an installment loan, to make payments each time you get a paycheck. Unlike most loans, which require monthly payments, installment loans might require you to pay every other week, or possibly every week.
You and your lender will work out a plan that works for both of you. Make sure you stick to your payment schedule. You might be able to arrange for your lender to take automatic payments from your bank account on certain dates. This makes paying back your loans easy and convenient, but be sure you have enough money in your account each time a payment is due.
Taking responsibility for your own finances is the first step toward financial success. Make sure you keep careful track of the amount you owe and the due dates for payments. As long as you are responsible, prompt and accurate with your payments, installment loans will always be a help and not a hindrance.
These fees are not usually calculated annually. These figures are provided for comparing these short term fees on an annual (APR) basis.