Installment Loan financial definition of Installment LoanInstallment legal definition of InstallmentINSTALMENT | Definition of INSTALMENT by Oxford Dictionary INSTALMENT | Definition of INSTALMENT by Oxford Dictionary 05/06/2008 · An installment loan is a type of agreement or contract involving a loan that is repaid over time with a set number of scheduled payments; normally at least two payments are made towards the loan. The term of loan may be as little as a few months and as long as 30 years. A mortgage loan, for example, is a type of installment The term is most strongly associated with traditional consumer Installment loan definition, a loan that allows someone to borrow a set amount of money and to repay it over a predetermined fixed period of time in regular installments, normally set up by the lender with equal installments that include both interest on the loan plus gradual repayment of the principal: They bought their new home and car using installment noun INSTALLMENT LOAN has 1 sense: 1. a loan repaid with interest in equal periodic payments. Familiarity information: INSTALLMENT LOAN used as a noun is very loan that is repaid in a certain number of payments in the same amount. Interest is computed in advance and is rolled into the payments. For example, a mortgage amortized over 30 years is an installment loan because the payments are equal to each other and …

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