The Difference Between Short Term and Instalment Loans

The Difference Between Short Term and Instalment Loans

First of all, when you’re searching for different types of short-term finance, you may ask yourself what is the difference between short term and instalment loans. Secondly, you’ll see the phrases short term loans and instalment loans used for different lenders as you shop the market. However, the fact is the loan industry just uses different terminology to describe the same product. Bingo Loans can provide you with all of the information that you may need when it comes to borrowing money.

Here, we’ve put together a quick guide in order to help you when it comes to finding the right short-term finance for you.

Why use Short Term Loans?

These types of loans are intended for short term use only. Because of this, they are generally required to be paid back in full, on the due date specified when you take out the loan. Life is often unpredictable, and because of this, you may find that you’re in need of financial aid. Your savings just aren’t quite enough to cover it. This is where payday loans from online lenders or brokers such as BingoLoans come in.

Perfect for:

If you’re not in need of a long-term monetary solution, and you can afford to pay back the loan and any additional interest straight away, in full. Short term loans are available quickly and easily here at BingoLoans, and with a simple repayment process, they can be extremely helpful when you need them.

Benefits:

• No need to worry about long-term repayments, with added interest.
• Highly convenient.
• Simple, online process.

Thoughts?

Short term loans are a simple and convenient way to get help when it comes to a financial issue. Something may have cropped up out of the blue and your savings or remaining pay can’t quite cover it. Applications with BingoLoans are quick and easy. We even provide bad credit loans. With us, you can gain help from one of the most reputable and responsible lenders on the market.