Personal advice:
If you want to apply for a loan, I personally don't recommend that you apply for an internet loan online, nor do you recommend that you apply for loan products from offline institutions. To some extent, these loan products have many routines. If you don't know the legal knowledge yourself, you are easily deceived by these loan products.
Secondly, all loan products can be repaid in installments, which is one of the basic functions of loans. You can choose the repayment time of 3~360 installments according to different loan products, and different loan products will have different repayment time. When you want to apply for a loan, lending institutions and banks will give relevant credit lines according to your personal repayment ability. If your repayment ability is limited, there will be few loan products you can apply for. On the contrary, strong enough loan ability allows you to apply for multiple loans at the same time.
Loan installment method:
1. First of all, of course, it is equal principal and interest repayment: this is the most mainstream repayment method at present. In this way, the amount paid every month is the same, the amount of principal and interest will be different, and the amount of principal paid in the previous period will be greater than the amount of interest; The overdue interest repayment amount is greater than the principal amount. This repayment method is suitable for loan applicants with stable income, and it is more convenient to arrange income and expenditure. Its disadvantage is that the amount of interest paid is relatively large, and the interest will not decrease with the decrease of the principal, so the total interest of repayment is relatively high.
2. Then repay the principal in equal amount: in this way, the loan applicant pays the same principal every month, and the monthly interest will decrease with the decrease of the principal amount. In the early stage, there were more principal and interest payments, but the total amount of interest paid was relatively small, and the repayment burden was reduced month by month. This repayment method is suitable for loans, and then the loan applicants with abundant funds have higher requirements for the repayment ability in the early stage.
3. Then repay the principal and interest in one lump sum: if the loan term is less than one year (inclusive), the principal and interest will be repaid in one lump sum at maturity, and the income will follow the principal and interest. This repayment method is generally only open to short-term small loans, and its applicability is not strong.