Benefits of an Installment Loan

Whether purchasing a vehicle or trying to consolidate bills into one low monthly payment that is more manageable, an installment loan can be an excellent way to increase buying power and make major purchases possible. This is also a great option when an unexpected purchase comes up. Maxlend Loans makes the process convenient, as just about everything can be handled online and by phone. Here is some additional information about their installment loans.

Pay Over Time

An installment loan allows a person to borrow a specified amount of money with set terms and pay it back over time. The payments are typically made monthly, along with interest over a period of six months. This makes budgeting much easier since everything is known ahead of time. The loans are very transparent.

Almost Any Need

Take out an installment loan for almost any need. There are a wide variety of loan products, with varying maximums depending on monthly income. Some are able to borrow as much as $2,000 and have it in their account as soon as the next business day.

Collateral Free

Maxlend Loans offers loans that are collateral free. All that is needed for an installment loan is to have a verifiable source of income with steady paychecks. Also, the person needs to have an open checking account along with a social security number that is valid. They don’t have to use their vehicle or home as collateral in these cases.

Not a Debt Trap

There are some loans out there that get people trapped in a cycle of debt. This is a much better option than a payday loan or things of that nature. This makes closure on the debt much more attainable.

Since Maxlend Loans services their loans themselves, they are able to offer a quick turnaround time. The application process can be done online and then there is a phone call to verify some information. After that, the approval takes place fast.

In addition to fast installment loans, Maxlend offers a wide range of other services. Visit their website to get additional information and to fill out an online application https://www.maxlend.com/faq.aspx. Their representatives are available to talk anytime 24/7 for those who are more comfortable handling everything that way. This offers peace of mind, even in emergency situations.