What is an Installment Account?
  • You owe a certain amount of money
  • You have to pay back a set amount of that money each month 
  • You also have a certain amount of time to pay off the loan

Installment Accounts have fixed terms with regular payments. If you’ve ever had a car loan, student loan, home loan, or personal loan, you know what we’re talking about. Let’s say your car payment is $300 per month—this means that each month you pay the $300 installment. Facts about Installment Accounts: 
  • You owe a certain amount of money
  • You have to pay back a set amount of that money each month and this set amount does not change
  • You also have a certain amount of time to pay off the loan    

We hope this information was helpful. If you have any additional questions, comments ,or concerns, please submit a ticket and our support team will assist you.



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