Installment Loan

An installment loan is a type of loan that requires a borrower to make regular payments over a set period of time. With an installment loan, the borrower will receive a lump sum amount at the beginning and will be expected to pay the same amount on each payment due date. This amount is typically determined by the interest rate and term of the loan. Depending on the lender, repayment periods can range from one month up to several years. Learn more about installment loan.

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