1. Automatic Withdrawal
One of the most common repayment options for online instant loans is automatic withdrawal. Borrowers can authorize the lender to automatically deduct the loan amount, including interest and fees, from their bank account on the due date. This option ensures timely repayment and convenience for borrowers.
2. Manual Payment
Some lenders may offer the option for borrowers to make manual payments towards their online instant loans. Borrowers can log in to their account and manually initiate the repayment process by transferring the funds or making a payment through the lender's website. This option provides flexibility to borrowers in managing their repayment schedule.
3. Check Payments
Certain lenders may accept check payments for online instant loans. Borrowers can write a check for the loan amount and mail it to the lender before the due date. It is essential to ensure timely delivery of the check to avoid late payment penalties.
4. Online Payment Platforms
Many online lenders provide access to online payment platforms for borrowers to make repayments. Borrowers can link their bank account or card to the platform and initiate payments conveniently. These platforms often offer options for scheduling recurring payments to ensure timely repayments.