Short-term to medium-term loans repayable in two or more consecutive payments are known as:

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Installment loans are defined as loans that are repaid with regular, scheduled payments (or installments) of principal and interest. These payments are made in equal amounts over a fixed period of time, typically ranging from a few months to several years. Examples of installment loans include auto loans, personal loans, and student loans. Non-installment loans are typically repaid in a lump sum, while residential mortgage loans are specifically for financing real estate purchases. Nonresidential cash loans is not a standard term in the financial industry.

Short-Term to Medium-Term Loans Repayable in Two or More Consecutive