Term Loan is given in one shot to meet long term Working capital requirement of the company against collateral security. This secured loan is given for purchase of machinery or any other business long term financial requirements.
Key Features of Term Loan : -
Loans start from Rs. 5.00 lacs & above.
Repay with easy equated monthly installments
The tenure of the loan repayment could range from 12 to 84 months.
Interest is calculated on a monthly reducing balance basis.
The loans are generally approved within 10 working days of
submission of complete documentation.
This loan can be used business purpose only.
Proprietorship/partnership/Pvt. Ltd company
Minimum 3 years old company in the same business
Minimum 1year old operation at same place
Profitable business for the last 2 year
Have a clean track record of at least 12 month from any MNC bank
Applicant must own office or residence.
Title to the property should be clear and free from encumbrance, i.e.,
without any pending legal litigation adversely affecting the ownership
of the property.
Age minimum 23 & the repayment should be before attaining the age
of 65 years.
Turnover minimum 40 lacs & above per annum for the last 2 years.
Quickly Contact Us to get the best deal.
Long term working capital needs
For purchasing machinery, Business expansion