Term Loan

Term loans are granted for specific purposes and are fixed as to, currency, amount, and period.

Financial and other Benefits

  • A solution to suit your diverse financial needs (Business or Personal)
  • Flexibility to choose a repayment period upto 3 years (Exceptionally for longer period as per the requirement of clients / project undertaken)

Costs (Interest, Fees, Charges, Commissions)

  • Interest is charged on the reducing balance and the applicable rate will be indicated in the Letter of Offer.
  • Loan documentation fees / legal fees / valuation fees will be applicable depending on the loan amount and security offered.

Procedure to be followed to obtain the product / service

  • A duly completed application form requesting for a Loan facility along with the necessary supporting documents requested therein should be submitted to the Branch Manager of the account holding branch.

Key Terms and Conditions

  • In the case of business clients Term Loans are granted for working capital requirements, purchase of fixed assets or any other purpose acceptable to the Bank.
  • In the case of a personal client, Term Loans are granted to meet any acceptable personal requirements.
  • The bank reserves the right to reject any application without assigning reasons thereof. However, when a facility is rejected reasons for such rejection are communicated to the client
  • Term loans will be considered for a client having a satisfactory monthly income acceptable to the bank.
  • Collateral / security acceptable to the Bank is generally expected to be submitted by the clients when requesting for financial assistance.