A Term Loan provides a limit of sanctioned amount upfront. The amount disbursed will be repayed with a fixed repayment schedule and interest rate that may vary based on market conditions and financials. Designed for established businesses or individuals, these loans are repaid in regular EMIs and typically have a longer duration.

Why Choose BillMart for Term Loan?
  • Fast and Easy Application Process: Our user-friendly platform makes applying for a term loan simple and fast. With minimal paperwork and quick approval times, you can get the funds you need without delays.
  • Competitive Interest Rates: We provide industry-leading interest rates that make financing more affordable. Our competitive rates help ensure you save money on repayments.
  • Flexible Repayment Terms: We offer customizable repayment plans designed to fit your financial situation. Whether you need monthly, quarterly, or annual payments, we tailor the terms to match your cash flow.
  • Quick Disbursement: Once approved, we ensure that your funds are disbursed promptly, often within 24-48 hours, so you can use the capital when you need it the most.
  • Transparent Terms and Conditions: We pride ourselves on offering clear, upfront information. With BillMart, you'll never encounter hidden fees or complex terms. What you see is what you get.
  • No Collateral Required: BillMart offers unsecured term loans, meaning you don't need to risk your assets to secure financing. We evaluate your loan application based on your business or personal needs.

Frequently Asked Question (FAQs)

  • 1. How do you Repay a Term Loan?
    A term loan is repaid in fixed monthly payments or EMIs, which are debited from the borrower's account on a pre-decided date every month. In case the borrower has extra funds, they can pay the extra amount over and above the EMI. This is called partial prepayment and is a good way to reduce future payment burden.
  • 2.What is an example of a Term Loan??
    Term loans are of different types based on their purpose. such as - Personal Loan, Education Loan, Car Loan, etc. In each case, the duration, loan amount, interest rate, and repayment terms differ. Based on the presence or absence of collateral, loans can be classified as secured or unsecured. Examples of secured loans are Car Loan, Loan Against Property, etc. Examples of unsecured loans are Personal Loan, Business Loan, Professional Loan, etc
  • 3. What is better - Cash Credit or Term Loan?
    The choice between Term Loan and Cash Credit (also known as working capital line of credit) depends on the borrower’s specific business needs and financial circumstances. Both have their advantages and are suitable depending on the purpose. However, in a term loan, borrowers can negotiate for a lower interest rate from the lender if they have a good credit score.
  • 4. What are the Monthly Instalments of a Term Loan?
    An equated monthly instalment (EMI) is a predetermined monthly payment paid by a borrower to a creditor on a predetermined date each month. The loan is repaid in full over a specific time by making monthly payments on the principal and interest. EMIs are advantageous to borrowers since it makes financial planning simpler. Borrowers can also use loan EMI calculators to determine the amount they need to repay every month as per the loan amount, tenure, and interest rate.
  • 5. How to Use a Term Loan EMI Calculator?
    A term loan calculator is a tool that allows customers to compute their monthly instalments by filling out details like tenure, loan amount, and repayment schedule.
Get end-to-end Finance solutions
Let's Talk?
+91 93269 46663 Contact for Demo Get Started
Contact for Demo WhatsApp