"Instalment loans" are a type of borrowing where you receive a fixed amount of money and then pay it back in regular, manageable payments over a period of time. Full definition
But in the case of instalment loans where the entire approved amount is released to you at once, the interest will be calculated on the total loan amount. (myfinancekits.com)
However, let's limit ourselves to the unsecured short term instalment loans which can be paid back within six to twenty four months. (myfinancekits.com)
Receive 1 % off the loan interest rate or a $ 100 rebate on a home energy audit on a fixed rate instalment loan over $ 5,000 when you purchase eligible products or services. (rbcroyalbank.com)