Installment Loans vs. Payday Loans: What’s the Real Difference? Disclaimer : Information below is general and may vary by lender and state. Funding timelines and costs are not guaranteed. Installment loans are repaid over multiple scheduled payments (e.g., 3–12 months). They typically have higher approval criteria than payday loans but provide more time to repay. Payday loans are short-term (often due on your next payday). They can be fast but often come with higher costs per dollar borrowed and a greater risk of rollover. If you need time to repay , an installment loan usually fits better. If you can fully repay by your next paycheck , a small, short-term loan may be sufficient—but weigh the total cost carefully. At WeFixMoney.com , our valued partners specialize in providing installment loans to individuals who meet specific qualifications. To determine your eligibility, the best first step is to complete our straightforward application form. Generally, you sh...