As we mentioned earlier, the amount will always remain the same. There will be no hidden fees for using a card at a certain ATM. There will be no adjusted rates or interest inflated over time. Everything is arranged, including the amount.
When you sign a quick installment loan with a bank or lender, you are also signing a contract with you stating that you are guaranteed a fixed rate. And that goes for the life of the loan, no matter how long it is.
The deal will not change over time or fluctuate. And the only way a new payment period or amount of payment comes into play is if you sign a new contract. There is no new contract, there is no change in charges.
It is less expensive to request a quick loan in installments
- While this may not be the case in all situations, many times the fast installment loan will cost you much less money in the long term.
- Credit cards tend to fall in the range of annual percentage rate (APR) of 13-23%. And that additional interest could be added to a large amount of money if you are not careful to make payments on time.
- Interest rates on credit cards can increase each month when the balance is not paid in full. This means that the total can continue to grow and stack on itself. Once again, the costs and more costs.
- On the other hand, however, installment loans generally offer more relaxed interest rates (somewhat more like 2-18%, depending on whether it is a secured loan or not). And this will save you from hundreds to thousands during the term of your loan.
- Never worry about paying late payments and being charged for exceeding your credit limit again.
You will get your money faster
Do you want to hear another wonga payday loans one of those incredible benefits of fast installment loans? With a loan in installments, it is likely that you get your money much faster. There is no snail mail involved.
It is likely to take you 24 hours to receive your money after the presentation. And if you are requesting a loan from a lender with whom you currently carry out your banking transactions, that money should be transferred directly to your account in a matter of minutes.