The most important thing about borrowing money is being able to repay it on time. There are some loans that you can pay fully on their due date. Sometimes, paying on time can be hard to do especially when you borrow large amounts of money. Monthly installment loans are loans that have a set number of scheduled payments over a given period of time, and are an alternative for people who cannot pay all the money they borrowed on their next pay day.
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They include mortgages, auto loans and even some short term loans. Monthly Installment loans have a lower interest rate compared to Payday loans. They can help you improve your credit score because they have multiple payments spread out evenly over the term of the loan. Some companies also give you the opportunity to apply for monthly installment loans online. Usually, when you apply for this loan online the approval only takes a few minutes and the money is wired directly to your Bank account. Let us look at some of the places where you can get monthly installment loans:
The company is a direct installment loan lender. They also claim that that they can connect their clients to some of the country’s largest network of BBB-approved lenders. Just like their name suggests, they offer 12 month installment loans. They provide fast loans of up to $1000 and promise that you can be approved for short term or long term loan of up to $5000 from the accredited installment loan companies they are connected to. Their application process lacks tiring paper work, faxing and phone calls and your application for a loan can be approved in minutes.
They are not direct lenders but according to their website, they can help connect you to the largest network of direct installment loan lenders in the country. They claim that they provide instant loans and that their application process only takes a few minutes. On this site you can ask to borrow from $350 up to $5000, which you can pay in installments for as long as three years. To apply for a loan, all you need to do is to fill out their secure online form and then once you have submitted the form they look for a lender that can get you the money as quickly as possible.
Avant is a Chicago based company that specializes in building the quickest way for people to get the loans they want. They offer unsecured installment loans that can be paid in installments for a period of 24 months to 60 months. The company claims to have helped more than 300,000 customers to get access to the loans they need. Their funding currently adds up to a whopping $1.4 billion. They have a very simple website that is easy to navigate and the loan application process on their website only takes 15 minutes. The company has a total of 700 employees and has served clients in over 300 countries.
Opploans is a direct lender and offers loan amounts from $1000 to $10,000. Their loans can be paid back over a 6-36 months. They also offer payment and terms that serves each individual and their interest rates range from 70-125 percent. They deduct payments from your payroll and also offer you the option of repaying through electronic fund transfer and others. To get a loan from Opploans, you need to have an active bank account, earn $1500 per month and have stable income.
Before you pick a monthly installment lender ensure that their website is secure. Only apply for a monthly installment loan if you are sure that you can repay without defaulting.