Installment Loan vs FLEX Loan: Break free from the Rigidity
If you are in a financial crunch or any monetary emergency, loans are the instant solutions. FLEX Loans, Installment Loans, Payday Loans and Title Loans are some which can come to your aid and provide you with rapid cash flow. Let us help you understand the differences between a FLEX Loan and Installment Loan.
FLEX Loans: Flexibility is the Key
FLEX Loans are everything you want them to be and everything you need them to be. From abundant cash inflow to flexible repayments, everything about FLEX Loans is user-friendly. With FLEX Loans, you can repay the loan on your own terms. Another benefit of FLEX Loans is that you will be provided with an open line of credit, from which you can withdraw additional cash for your instant need and repay in simple & easy payments.
Installments Loans: Schedule is the Key
Installment Loans are another way to enjoy extra cash. You can take Installments Loans and repay them within the fixed repayment tenure, which generally ranges from a few weeks to a few months or even a few years. While applying for an Installment Loan, you need to fix the repayment intervals. Unlike FLEX Loans, Installment Loans are not fluidic with repayments.
Here are some vital differences between FLEX Loans and Installment Loans:
- With Installment Loans, you can borrow a lump sum amount
- Installment Loans are very rigid and offer little to no flexibility in terms of payments or getting more money when required
- Unlike a FLEX Loan, there is no flexibility of getting more money when you still are paying out your existing Installment Loan
- You must repay the debt in a fixed tenure for an Installment Loan
- There could be penalties for early repayment in an Installment Loan
- On the application, Installment Loans can be confusing at times about the amount of interest and principal payment
- FLEX Loans allow you to borrow any amount up to $4000, which is offered as a line of credit.
- You do not need to borrow the entire amount. Only borrow what you need and the rest stays in your line of credit available to you whenever you need it.
- You only pay interest for the amount you borrow, not your entire line of credit
- FLEX Loans are about flexible tenure. You can repay on your own terms.
- With FLEX Loans, you can consolidate the debt structure within the flexible tenure.
- FLEX Loans typically charge a daily interest rate and / or fee, thereby ensuring that you only pay for what you have borrowed and only for the time that you need the cash
FLEX Loan or Installment Loan? Obviously FLEX Loans. Who can say no to more benefits and flexibility to help with more complex ventures.
Are you in need of a FLEX Loan? Apply Now for Online Installment Loan Alternative .