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: Everyday MoneySaving for the Holidays: Tips to Start Early Family MattersBack to School Savings: Tips for Stretching Your Budget Everyday MoneyBuilding and Maintaining Financial Health Throughout Your Life Everyday MoneyWhat Is A One-Time Passcode (or verification code) And Why Would Someone Ask Me For It? Living QuartersFirst-Time Homebuyer’s Playbook: 4 Steps to a Successful Offer