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When you’re searching for different types of short-term finance, you may ask yourself what is the difference between short term loans and instalment loans

You’ll see the phrase short term loans and instalment loans in the market and may think they are the same thing, when in fact they are. With Bingo Loans, we can provide you with all of the information that you may need when it comes to borrowing money. Here, we’ve put together a quick guide in order to help you when it comes to finding the right short-term finance for you.

Short Term Loans

Why Short Term Loans/Instalment Loans?
These types of loans are intended for short term use only, and because of this, they are generally required to be paid back in full on the due date specified when you take out the loan. Life is often unpredictable, and because of this, you may find that you’re in need of financial aid because your savings aren’t quite enough to cover it. This is where short term loans from online lenders or brokers such as Bingo Loans come in.

Perfect For:
If you’re not in need of a long-term monetary solution, and are perfect if you can afford to pay back the loan and any additional interest straight away, in full. Short term loans are available quickly and easily here at Bingo Loans, and with a simple repayment process, they can be extremely helpful when you need them.

Benefits:
• No need to worry about long-term repayments, with added interest.
• Highly convenient.
• Simple, online process.

Conclusion:
Short term loans are a simple, and convenient way to get help when it comes to a financial issue that may have cropped up that your savings or remaining pay couldn’t quite cover. Applications with Bingo Loans are quick, and with us, you can gain help from one of the most reputable and responsible lenders on the market.