Installment Loans are often repaid in regular, equal payments which can be clear from their meaning. The terms differ from 3 to 60 months with regards to the level of the mortgage. It provides you additional time to cover from the cash than pay day loans or advance loan as an example. Besides, this type of repayment plan is more versatile and convenient than whenever cash is immediately withdrawn from your own account as you will get the paycheck that is next.