A short term loan is useful for those days when you can’t stretch till payday or when you need a little bit of extra cash for emergency use. But the problem is that sometimes you may not be left with much after paying for the loan when the payment is due. What happens next is that by the middle of the month, you are cash-strapped again and then you go on a cycle of getting an online loan every month.
Would it help that there are long term loans that you can borrow 1000 dollars and pay back every month? Sure it does.
Where Can I Borrow 3500 Dollars, Not Payday Loans
I think people do appreciate if there are installment loans for people with bad credit. I know I do, because if I need a 3500 dollar loan today, it would be easier for me to pay over several months. Something like returning 300 dollars every month for 180 days, which is much more affordable even if I accept that I have to pay more in the interest fees.
Online Loans You Can Pay Back With Small Installments
It turns out I am not alone in thinking of that. As of recent, there are installment loans which you can borrow more than 2000 dollars over 90 days and more. It appears that these short term installment loans do not come under the similar regulations that governs payday lending so it is possible to get more than a 1000 dollar loan.
A quick google search for online installment loans will showed that only a few online providers have such products and here are some features to look for if you need a 90 day personal loan with immediate approval.
- Do you need good credit to be eligible for an online installment loan? For such loans, can you pay over several months instead of a one-time lump payment?
- Can you pay back the entire loan early? And there is no penalty for doing that? This can be a very attractive feature which allows you to save money when you are able to settle the debt earlier than intended.
- Installment loan lenders allow you to borrow more than what a normal payday loan can. It can be for as little as 500 dollars over 3 month or a more sizable 5000 installment loan. Collateral is not required but similar lending criteria is applied so you have to provide verifiable income to meet the requirements.
By and large, it makes sense to go for a 3500 loans if you know you need a longer period of time to pay back the funds but at the same time, you must also consider whether you can afford them as the longer a loan is held, the more you have to pay.
For more information, check these websites for installment loans: