InvestingBytes.com

Traditionally, installment loans were offered by banks and credit unions for the purchase of vehicles or homes. If you or your family have been a borrower of such a loan, you wouldn’t be a stranger to the amount of paperwork that is involved in it. From the number of phone calls or visits that are required from the first step of gathering information about lenders who provide installment loans to finally receiving the loan in your bank account, it is one tiresome process involving loads of documentation and formalities.

As an alternative to this, online lenders are granting quick and easy installment loans. For everything from a small, short-term loan to a big purchase, from emergency vehicle loans to unexpected medical bills, quick and easy installment loans are available for those looking for convenience and fast approvals. From the comfort of your desk, applying for an installment loan online takes literally a few seconds, and getting your details verified and receiving the cash into your bank account takes only a day.

Between $300 and $1500, any short-term financial requirement is met by quick and easy installment loans that are fixed term loans. Repayment by borrowers is done as interest, along with a portion of the principal in regular installments. Quick and easy installment loans can be either secured or unsecured. While unsecured loans are granted with only a signed agreement from the borrower to the lender, secured loans are provided against collaterals and are appropriately charged lower interest.

Other eligibility criteria for quick and easy installment loans are that the borrower must be 18 years or older and a citizen or legal resident of the country. While some online lenders have a restriction on providing loans to people from certain specific states, they also are particular about not issuing quick and easy installment loans to military personnel or their families. Having a checking account accessible by the automatic clearing house results in receiving money instantly. When you need money now, why wait? Quick and easy installment loans are just a click away, literally.