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While payday loans are a great solution to our immediate money needs, let’s face it — sometimes bigger is better when it comes to credit options. When late fees, car repairs and hospital bills get so big that they tower over us, it’s time to fight back with an online installment loan from CashNetUSA. But aren’t installment loans the same thing as payday loans but with more payments? Are apples the same thing as oranges?
A personal installment loan is considered a medium-term loan that typically has a higher loan amount than a payday loan. It is repaid gradually in scheduled payments over several months instead of your next payday. With a higher loan amount, borrowers can cover more emergency costs right away and attempt to re-establish their immediate financial futures. And with a more flexible repayment schedule, borrowers can feel less pressure when meeting due dates.
As helpful and convenient as installment loans are, it’s important you understand how they work and what they should be used for before borrowing one. At CashNetUSA, we’ve created a helpful online installment loan resource section to help answer any questions you may have about our online personal loans!
Get a 30% rebate on your first two installment loan payments with code INSTL30+++
If you’re considering an online personal installment loan but aren’t sure if you qualify, head over to CashNetUSA’s Terms and Rates page first to see if they’re available in your state. If they are, great! As long as you have an active checking account, have been employed for at least one month, are a U.S. citizen or permanent resident and at least 18 years old, you’re eligible to apply.
Find more answers to your online personal loan questions in our resource centerand educate yourself today! And don’t forget — our customer service representatives are standing by 24/7 via phone, email and online chat to provide further help!