What is a Personal/Installment Loan? Installment or loans that are personal the ones that allow you to definitely borrow a particular, formerly set sum of money, unlike charge cards or perhaps a credit line. Before taking down one of these brilliant loans, you have to know just how much you ought to borrow. As soon as youвЂ™ve borrowed the amount of money, you must back pay it in installments over a collection time period. These loans are superb for paying off sudden, unanticipated bills or costs. Financial emergencies can pop up whenever you want. Signature loans are a definite great method to prevent you from missing any payments on these crisis costs.