Installment loans are very helpful in times of financial pinches. They do not require collateral as security and hence are called unsecured installment loans. Moreover, easy installment loans with fewer loan requirements assist in covering up unforeseen expenses such as car repairs, medical emergencies, utility bills, home renovations, etc. Although there are many feasible funding solutions available in the market, installment loan is the best variant when you need money easily, even with poor credit. However, if you are considering applying for installment loans, you have options- offline installment loans and online installment loans. While both are paid back in regular fixed payments, they differ in key aspects such as the mode of application, loan processing, funds transfer, payment withdrawal, etc.