How do Instalment Loans Work?
An instalment loan allows you to make the monthly repayments in smaller and more affordable amounts.
When borrowing traditional payday loans, you will typically receive the loan in one lump sum, but you have to repay the entire loan amount and interest on your next pay date. This can be very pressurising when money is tight.
With a more flexible instalment loan, you can spread your repayments over time, so there won’t be a rush to repay your loan in full on your next pay date, giving you more time to get back on your feet financially.
With Quick Loans Express, you can choose how many months you want your loan to be for and how many instalments you want to repay. So, if you want to repay over 3 – 6 instalments, you can certainly do so. You always have the opportunity to repay your loan early and save on interest at no extra charge.