Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Installment Loan Installment Loan November 9, 2021 Borrowed money that is repaid in equal periodic payments. Cars and furniture are often paid for with installment loans.You Might Also Like: Living QuartersFirst-Time Homebuyer’s Playbook: 4 Steps to a Successful Offer Everyday MoneyBank Holidays: Understanding Their Impact on Deposits and Transactions Living QuartersMortgage Lending for Veterans at Bank Five Nine All Things CommunityReviewing Random Acts of Kindness 2023 Everyday MoneyWhat are ACH Payments and How Do They Work?