Are you looking for a fast approval loan but at the same time you are worried about hefty fees for failing to keep up with the repayments? If you are in this predicament, you should attempt to apply for long term personal loans, such as a 24 month installment loan. A 2 year loan based on monthly installment payments grants you more time and flexibility in between juggling your finances and debt obligations.
Spread over smaller payments, a loan request of 20000 dollars or more becomes more manageable and reduces the chance of default, which will bring about serious consequences, such as being sued for bankrupt. The flip side is that you will incur more interest fee due to the length of the loan but it is considered a fair tradeoff to most people. Generally, you would want to apply for legit long term loans if you need to borrow large sum of money, say, up to 5 times your salary.
For those who have excellent credit records (FICO Score above 700), you can take your pick of established lenders with low interest such as banks and major financial institutions. You are likely to get great offers on unsecured long term loans due to your good credit history and with that, you can look forward to cheaper rates and easy repayment plans.
A good credit record is imperative if you want to enjoy low interest rates on personal loans with monthly installments but for folks who have fair or bad credit, these private sources for long term loans would present a higher chance of getting approved when you have limited personal credit remaining.