Term loan is given for a fixed duration of time and must be repaid in regular instalments
A term loan provides borrowers with a lump sum of cash upfront in exchange for specific borrowing terms. Term loans are normally meant for A form of loan that is paid off over an extended period of time greater than 3 years is termed as a long-term loan. In exchange for a specified amount of cash, the borrower agrees to a certain repayment schedule with a fixed or floating interest rate. As Examples like Car loans, home loans, and certain personal loans are examples of long-term loans.
Term Loan Advantages
Oscar capital funding offers fastest loan methods With lowest interest rate and highest borrowing limits under a sufficient time limits and superior guidance.