Indifi Technologies

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What Is A Term Loan?

A term loan is a short term or long term loan that is given for a stipulated period. Financial institutions provide these loans on a condition of repayment in fixed instalments (EMI) along with interest. They are offered at both floating and fixed rates of interest. The repayment tenure of term loans ranges between 12 months to 60 months. Personal loans, business loans, auto loans, education loans, gold loans, and home loans are some examples of term loans.