Sponsored Post
Long-term personal loans or installment loans can come in handy if you need a considerably large sum of money but you don’t have or don’t want to deposit collateral as a guarantee. Term loans or installment loans are useful if you want money to start a business, pursue higher education, go on a trip, or for a renovation of your home or business.
These loans are consumer-friendly despite the fact that the rate of interest is generally higher than loans which require collateral because these loans are predictable. The money you have to pay per installment is small and you get a considerably longer period of time to repay than a short-term loan.
Another major benefit is that some installment loan lenders, like Cashco Financial, report your payments to credit reporting agencies which helps to improve your credit score significantly. This in turn makes it possible for you to get loans of higher amounts in the future at lower rates of interest.
Cashco Flex Loans
If you want to improve your chances of success in getting an installment loan and you are not sure which lender to approach, talk to a Cashco Financial Flex Loan agent today. It is the safest and the most trusted moderately long-term loan available in Canada today. You have the flexibility to decide on your overall term and each installment amount. Cashco Financial also believes in educating and empowering its clients. So, the agents are there to help you manage your funds, answer questions and make you aware of all the implications of every loan.
Flex Loans are one of the most trusted online loans in Canada and are completely safe. Cashco also believes in creating long-term relationships with its clients so you get attractive incentives in the form of discounts, cash benefits and customized offers if you are a repeat client or you make multiple referrals. Cashco also regularly reports your payments to credit bureaus which help improve your credit score. Many other lenders don’t follow this practice. Now you know why Cashco is the best option if you are thinking about an installment loan.
Tips to follow when applying for installment loans
- Examine the website carefully before making a formal application: Before you make a formal application, you should go through the lender’s official website carefully. See the conditions and read the fine print carefully. Consider all the pros and cons. Phone the company and talk to agents if you feel that you have any doubts. Understand and analyze all the clauses properly and take a well-considered decision. You should also have all the documents before applying so that no time is lost due to absence of a document.
- Use an installment calculator to understand the amount you have to pay per installment: There are lots of different installment payment or EMI calculators available online that help you to calculate the amount of each payment depending on the term, rate of interest and type of loan. Before you apply, you need to know the exact or estimated amount of your installments and whether you find them affordable. You can also compare between multiple lenders by feeding their data into an EMI calculator and getting the amount of installment.
- Find out your credit score before you apply: Even before you start researching the websites of potential lenders, find out your credit score. In Canada, there are a few credit bureaus. Go to their website, enter all the data if they don’t already have your records and find out your credit score. This is essential because it helps you to screen and find out the lender who is ideal for your credit score.
- Find out about the processing fees and hidden costs: There are lenders who are not very transparent. They have additional costs which they keep hidden and only reveal them after you have signed the deal. Try to find out if there are separate processing fees for your application. Some companies deduct the amount from the loan itself.
