long term loanHow long of a long term loan are you looking for? When it comes to borrowing money, terms like short-term and long-term are thrown around, but what do they mean?

The shortest of the short term loans is a payday loan. These are designed to be fully repaid by your next paycheck. It doesn’t get much shorter than that!

The longest of the long term loans are usually mortgages and student loans, which takes decades to repay.

In between there is a lot of middle ground, and so the question really is – how long of a long term loan to you need?

Installment Lenders Fill in the Middle Ground

With an NSL installment loan, you have up to 16 months to repay the loan. With an organized, clearly defined schedule of loan payments, you know exactly when each is due, and how much each will be.

However, we use the term “up to 16 months” because we never charge prepayment penalties or extra fees for making extra payments – or even paying the loan off in full at any time.

Remember, the earlier to pay off the loan, the less you end up paying in interest, or APR.

There is never any rush, and you will never be asked to pay off your loan early. It is just an option we like to offer to all of our customers. It is one of the little things that set NSL apart from other lenders, who commonly charge big fees for early payments.

Your Loan Term Loan Just Got Easier

Everything is relative, and what is short or loan depends on your own personal situation.

Going forward, remember that NSL offers loans up to $500 for first time customers. You have anywhere up to 16 months to repay that loan, or you can pay it off as quickly as you like.

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