Installment Loan(redirected from Installment Loans)
Also found in: Dictionary, Thesaurus.
Related to Installment Loans: Personal loans
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.