While specific terms of an installment loan will vary depending on your state, the Lender you are working with and your particular circumstances, here is a general range of common terms:
- Loan amount: $100-$25,000
- Approval within 24 hrs
- Lending period: 2-60 months
- Payment frequency: Ranges between once or twice a month
- Annual percentage rate (APR): Will vary based on your repayment history, credit score and other factors
- Prepayment penalty: None
You have the option to repay the loan in full before the due date and only pay the interest rate for the period of time that the loan was outstanding.