Installment plan
The main difference between an "installment plan from the developer" and a "loan" is its availability for all customers, no additional costs and interest, the payment schedule is done on individual bases in a convenient way to the clients.
Payment plan by Installment is easily set up. The buyer is not required to provide additional documents such as proof of income, only valid international passport. Installment without any doubt is the best option for those who need more time to accumulate funds. However, you need consider that the duration when purchasing property with an “installment payment plan” is shorter then when compared with the “loan”. All these terms and conditions are set by the developer. In general, the duration of the installment payment plan is throughout construction period, or could be negotiated individually with the owner of the property.