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The critical difference between an installment loan and an online payday loan is based on the way you repay them.

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The critical difference between an installment loan and an online payday loan is based on the way you repay them.

Installment loans

You’ll borrow as much as $10,000 for a time period of 6 to three years and payback in equal installment, whether you have got good or bad credit. These kind of loans is really what we call installment loan.

Installment loans provide you with time as it spreads the payments more than a period that is relatively long the payday. Therefore, such that loan provides your paycheck an sufficient respiration room, with only a little quantity visiting the loan repayment on a monthly basis.

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