Web13 Oct 2024 · Personal loans. A personal loan is a type of installment loan, which means you’ll pay it back in fixed payments by the end of a specific repayment term. These loans also typically come with much lower interest rates compared to flex loans. Unlike revolving credit like a flex loan or credit card, you’ll get the funds from a personal loan as lump sum. Web2 Dec 2024 · What is a personal installment loan? A personal installment loan is a type of loan where you borrow a sum of money and must pay it back in fixed amounts called …
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