What is an installment loans?

An installment loan is any loan which is designed to be repaid in two or more installments rather than in a one off payment.An installment loan is basically any loan which is designed to be repaid in two or more installments rather than in a one off payment, as is often the case with payday loans. Many short-term loans are a type of installment loan, if the repayments are spread out over the course of two or more months. So, is there any real difference between short-term loans and installment loans? The short answer is: there can be. Some short-term loans (such as payday loans and cash advances) have a single repayment date; loans such as these differ from installment loans which are repaid over several dates. Quite often this means that the overall duration of an installment loan is longer and can be accompanied by lower interest rates – though this does not mean that the total cost of the loan is necessarily less.

How much can you borrow with an installment loan?

As with any loan, the amount that you can borrow is largely dependent on your personal circumstances and financial history. At Green Leaf Loan Group, we offer you the option to choose a loan ranging from £100 up to £2500. However if you are accepted, the loan amount you are offered may differ from the amount you requested, depending on the lender you are matched with and of course, affordability. Installment loans are often the best solution for people who are looking to borrow larger sums of money within the range we offer. This is because they give you the flexibility to pay back your loan in several smaller and more affordable chunks, rather than in one lump sum.

Who should choose an installment loan?

If you need to get your hands on some extra cash and are considering applying for a loan, have a think about what you actually need to fund - it will help you to decide what type of loan you should go for. For instance: if unexpected expenses or an accidental over-spend have left you without cash in your pocket until the end of the month, then a type of cash advance such as a payday loan is probably the most sensible option. These loans are typically for smaller amounts of around £100 to £300 and can be paid off in one hit, ideal for people who only need a small cash injection. The interest rates with these very short-term loans are usually higher than installment loans, but the overall cost of the credit is likely to be lower. Why spend more than you have to or borrow more than you actually need? Do not be tempted to apply for a higher loan amount, just because you can. Now, if you’re looking for a loan because you need to cover the cost of a larger expense, such as a new car, a holiday or home renovations… you will be better off choosing an installment loan which can be paid back in several portions. Let’s face it, very few people can afford to pay back large cash loans in one single repayment, but choosing a loan with a longer duration could enable you to spread the cost of repayments over three to 18 months! Click here to start your application and see if you could get access to up to £2500 cash!

Let us help you find your ideal installment loan

Applying for a loan through Green Leaf Loan Group could help you find the best loan product to meet your needs in the shortest possible amount of time. It's that easy!Applying for a loan through Green Leaf Loan Group could help you find the best loan product to meet your needs in the shortest possible amount of time – it literally couldn’t be any easier! You specify your preferred loan amount and duration and we go to work. As a credit broker, we compare your requirements to loan products from dozens of the UK’s top direct lenders, in moments. Then, all that’s left is for you to choose your loan from the offers we show you and sign your loan agreement electronically – absolutely no paperwork required! So, you get to review suitable loans from the best lenders out there, just by filling out one easy form!

We aim to provide responsible lending solutions

The direct lenders in our network follow responsible lending practices; they will never offer you a loan that they feel you cannot afford. It is vitally important that you fill out your loan application truthfully. Successfully paying off a short-term loan may make it easier for you to borrow larger amounts in the future, should you need to. Short-term loans provide an important financial lifeline to people all over the UK every day… nevertheless you should always consider other options before choosing to take out a loan. Late repayment can incur additional charges and non-payment can eventually result in your debt being passed to a collection agency.

Apply for an installment loan with no obligation

Luckily, when you apply through Green Leaf Loan Group, you are under no obligation to accept any loan you are offered. We don’t charge for our services either! You are free to apply for a loan at your leisure and weigh up your options before finalizing an agreement. Find out more about how it works, or click here if you’d like to start your online application. We even have a handy mobile application, so you can see if you’ll qualify for a loan while you’re out and about!

More information on Installment Loans from National Cash Credit

Installment loans allow for greater financial flexibility according to National Cash Credit. To view the whole video please click here to visit www.youtube.com.

Disclaimer: Not every lender will provide an installment loan. You may be matched with a regular lender depending upon the information you provide. You do not have to accept the loan that you are offered. Carefully read over the terms and conditions of the application before submitting.