A installment that is fixed is that loan this is certainly paid back over a particular time period with a group quantity of scheduled payments. It could be either a loan that is sagecurede.g. automotive loans, mortgages) or an unsecured loan ( ag e.g. unsecured loans, figuratively speaking).
An installment loan varies from a credit line, as an example, that offers a optimum credit quantity you can easily borrow from, or payday advances, which are a small amount at high rates of interest. (mehr …)