Installment Loan


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Installment Loan

A loan that is repaid in a certain number of payments in the same amount. Interest is computed in advance and is rolled into the payments. For example, a mortgage amortized over 30 years is an installment loan because the payments are equal to each other and the loan is repaid after the 30 years have expired.
References in periodicals archive ?
One month after installing the system, the installment loan delinquency rate dropped to 2.
Rise is a state-licensed online lender offering unsecured installment loans and lines of credit.
All Affirm installment loans are made in partnership with Cross River Bank.
The company launched its NetCredit business in 2012 to provide longer-term unsecured installment loans to near-prime customers.
TransUnion's Market Trends report from first quarter 2015 learned Canadians prioritize lower-interest installment loans over credit card debt.
The collateral in the aforementioned transactions consists of fixed-rate manufactured housing installment sales contracts and installment loan agreements secured by security interests in the manufactured homes and by liens on the real estate on which the manufactured homes are located.
Plus, customers with an AmSouth installment loan may apply to skip their next payment with no extension fee by calling 1-800-865-7949.
These forward looking statements involve risks and uncertainties, including risks related to the regulatory environment, litigation, the impact of hurricanes, the integration of acquired stores, the performance of new stores, the new installment loan products and other new product lines on the Company's business, results of operations, financial condition and prospects.
And, Defining consumer loans as personal medium term loans to finance personal consumption of (goods, durables, education, and health care) to be repaid on monthly installments over a maximum period up to 5 years Defining installment loans (residential loans) as personal long term loans to finance non commercial purposes - especially to finance the maintenance or purchase of personal housing units to be repaid on monthly installments over a maximum period up to 15 years
A good credit mix, such as credit cards and installment loans, is good to have, but too many can lower your score.
The banks also continue to innovate their mortgage products: offering free checking accounts, installment loans and counseling.
Home & Auto Protector is designed to be sold point-of-sale to consumers in connection with home mortgages, home equity loans, manufactured housing loans, and auto and other installment loans.