All termsGlossary
What is an installment?
Installment
An installment is one payment in a set schedule that pays off a purchase or loan bit by bit. A car loan is paid in monthly installments. A pay-in-4 plan splits a price into four installments, one every two weeks. Each plan lists how much every installment is and when it's due.
Example
A $400 purchase paid in 4 is four installments of $100, two weeks apart.
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General education, not financial advice.