Multiple banks. Different interest rates. Call it a "conflict of interest".
  • loading

    Term Loan

    We found 32 Term Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 15.99% Fixed
    1% to 2.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Ad INSTANT DECISION
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19.50% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    1% - 2% One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.59% - 18.49% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.85% - 11.85% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.49% - 20.15% Fixed
    Up to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.25% Fixed
    0 One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Term Loan is Rated as "Great!" by 73694 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    What is Term Loan?

    Term loan is a loan from a banks for a specific amount and that which has the specific repayment schedule and a floating rate of interest. Term loans are offered for up to 10 years. These loans are usually offered to small businesses so that they have enough cash that they need to operate. Small businesses usually take term loans to purchase fixed assets and other products that they need for their production purpose.

    Features of Term Loan

    The features of term loans are as follows:

    • Term loans are Secured Loans. The asset that is purchased using the term loan amount, will serve as a primary security and other assets of the company will be serving as collateral security.
    • The loan has to be repaid within the fixed term regardless of the firm’s financial situation.
    • The interest rate on the loan is charged after evaluating the credit risk of the proposal, the loan amount and tenure for which the loan is taken. The interest rate will be subject to a minimum lending rate. The rate is negotiated between borrowers and lenders at the time of distributing the loan.
    • The term loan’s maturity lies between 5 -10 years. The repayment of the loan is made in instalments. The tenure can be rescheduled to help borrowers deal with the financial emergencies.
    • The lender will ask the borrower not to raise additional loans and to repay the existing loans and maintain a minimum asset base.
    • Term loans can be converted into equity according to the terms and conditions that have been laid out by the lender.
    • Financial institutions impose a penalty on the defaults.
    • Commitment fee is charged on the unutilized loan amount.
    • The principal loan amount is to be repaid after the initial grace period of 1 – 2 years.
    • Commercial banks’ term loan are repayable in equal quarterly instalments whereas financial institutions’ term loan are repayable in equal semi-annual instalments.
    • Servicing burden of the loan declines over time. The interest will be less and the principal repayment will remain constant.

    Advantages of Term Loans

    • The loan is cheap for the borrower.
    • The interest that the borrower pays on the term loan is tax deductible and hence can avail tax benefit on the interest paid.
    • The term loans are negotiable and hence the terms and conditions of the loan are not rigid.
    • The term loans represent debt financing and the interest of the equity shareholder is not weakened.
    • The lender will have a collateral security and hence the loan is not a huge risk to the financial institution.
    • Since the borrower will be making regular payments towards the principal loan amount and interest, the lender will have a regular and steady income.
    • Since the loan can be converted to equity, the lender can get the right to control the affairs of the business or firm.

    Disadvantages of Term Loans

    • If the borrower fails to make the repayments, the lender will question the borrower’s liquidity position and the company’s existence will be at stake.
    • Debt financing increases the financial risk of the company. It adversely affects the benefits of the shareholders.
    • In addition to the collateral security, the borrower will have to tend to the restrictive covenants imposed by the lenders. The borrower will have to close the existing loans and must maintain the asset base and not take another loans. This causes unnecessary interference in the firm’s functioning.
    • Since the terms and conditions are negotiable, there is chance that it might affect the interest of the lender.
    • The lender of term loan will have no control over the company’s affairs and it leads to the lender asking the borrower to convert the loan to equity.

    Term loans offered in India

    Following are some of the lenders that offer Term loans in India:

    IDBI Bank Offer Term Loan

    Terms loans are sanctioned for project loan. The loan is used to set up a new unit or to expand the existing units. The loan amount can also be used to buy plant, machinery, building, etc. interest rate is normally floating rate based and it also depends on the creditworthiness of the borrower, credit rating, risk involves, tenure of the loan and other relevant factors.

    Union Bank of India Offer Term Loan

    Union Bank of India offers term loans to help you acquire capital goods or asset creation for your firm for a long term basis. You can also swap the high cost debts availed from other banks or lenders. The loan can be taken under Deferred Payment Guarantee basis. The maximum tenure is up to 84 months. The loan can also be availed in foreign currency.

    United Bank of India Offer Term Loan

    Term loans are offered to fund capital expenditure for setting new units and expanding the existing units and for modernisation of the project.

    HDFC Bank Offer Term Loan

    Term loans are offered to business for tenure of 5 years for expanding their business, for capital expenditure and for fixed assets. Short term finance option is also available to meet the borrower’s individual needs. The repayments are matched to the borrower’s available cash flow.

     Loading your search... Loading your search...
  • Term Loan Reviews

    • Bank Bazaar Customer Support
      "Easy to accesss"
      0.5 4.0/5 "Great!"
      Bankbazaar.com is good and its satisfactory too, also I got the call from them immediately. They are prompt in service towards the customer and am using it from the last one year of time. Website of the Bankbazaar.com is easy to access.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "User friendly"
      0.5 4.0/5 "Great!"
      When customers are reaching bankbazaar.com for any kind of financial product, the bank bazaar really helps the customers and supports the customers to get product with the different bank partner. It would be great if the bank partners also gives service like bank bazaar. Bank bazaar web portal is easy to use and I can say it user friendly.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "Overall good"
      0.5 4.0/5 "Great!"
      Overall , Bankbazaar.com have provided the good experience and am using it from the last one month of time. I came to know about Bankbazaar.com through internet. I would like to say that the website of the Bankbazaar.com is easy to access.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "Good in Response"
      0.5 4.5/5 "Excellent!"
      I received very good response from bankbazaar. Website is good to access and I am using bankbazaar app which is very much useful to get to know about the financial products. I frequently use the app to check the loan details. They are playing good role in the financial world.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • Citibank Personal Loan
      "Need to focused a lot on improvement"
      0.5 1.0/5 "Really Bad"
      CITIBANK, while explaining the personal loan, they explained in a processed way and told less interest rate, and after that while processing the loan the have increased the interest rate, which need to be changed with Citibank. They need to be improve lot of things, while communicating with the customers. Citibank executives and the higher officials need to be trained in the processed way to communicate with their customers.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • Tata capital Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have not got the personal loan with the Tata capital limited because of some documentation reason. They have asked me to provide six cheque leaf to process the application but I was lacking with that, then I have asked them to cancel the application.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 23, 2017
    • HDFC Bank Personal Loan
      "Good Bank"
      0.5 4.0/5 "Great!"
      When I applied for a personal loan with HDFC bank, my credit score is not been updated so I could not able to avail the loan. I am waiting for a month, after which I will apply for the loan again. Everything was good with HDFC like their responsiveness and their customer service too.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "Average"
      0.5 3.5/5 "Pretty good"
      It would have been better if the response was more sooner from Bankbazaar.com, and most of all the terms and conditions on the portal could be updates with that of the banks. Else I had no hassles and the process of follow up calls was good and on time.
      Was this review helpful? 0
      , hosur
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Could be more flexible for corporate customers"
      0.5 3.0/5 "Satisfactory"
      The response was a bit delayed from ICICI Bank after I had applied for a personal loan. I could not proceed for the loan is because of the salary criteria. The bank had a condition of 20K as a take home. The rate of interest and the processing charges was pleasing to me.
      Was this review helpful? 0
      , hosur
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "Good"
      0.5 4.0/5 "Great!"
      I got the call from the Bankbazaar.com in the same day itself from the day of my inquiry. Customer service is good with the Bankbazaar.com and they have connected me with the bankers for my financial inquiries. I have not faced any hassles with them till now.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • Citibank Personal Loan
      "Excellent deal on the ROI"
      0.5 3.5/5 "Pretty good"
      Since I am a corporate customer, Citibank did not have much of a documentation for the personal loan. The process was quick and smooth. The deal on the interest rate was good as I got a rate of 10.99% which was the lowest when compared to other banks. The processing charges was minimal.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 23, 2017
    • HDFC Bank Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      There was no necessity to get the personal loan on that time because I had sorted out the reason for the personal loan. Rate of interest was around 11.99% for the personal loan with the HDFC bank and the customer services are always good and the response is very good too.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I got proper information from bankbazaar for the loan process. I did not find any hassles with bankbazaar at any point of time. They are good in followups and they promptly provided updates on the status of the application at regular intervals.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on May 23, 2017
    • HDFC Bank Personal Loan
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      Interest rate for the personal loan is 11.29% with HDFC bank. They done with the process in five days. The processing fee for the loan is around 999. I am very much happy with HDFC bank for the loan. The customer service of HDFC bank is really a standard one.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "High Interest Rate"
      0.5 3.0/5 "Satisfactory"
      Interest rate is on higher end with ICICI bank for the personal loan. Processing fee is also high with them. But the customer service is too good and it is approachable. As the charges are high with ICICI bank I moved to HDFC bank where I got low interest rate for personal loan.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      There were no hassles at Bankbazaar and I am happy with the overall experience. The team was prompt in contacting me and I also like the way the process was handled with the follow up calls. The website was excellent and the best to visit before taking a loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 23, 2017
    • Standard Chartered Bank Personal Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      Since I did not require the funds, I went ahead and cancelled my personal loan request at Standard Chartered bank. The bank was on time in contacting me and giving me details. The rate of interest was high, it was around 12.99% where as there are banks offering me 10.99%.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "Good"
      0.5 4.0/5 "Great!"
      Bankbazaar.com is good and they have contacted me immediately after I have done up with my inquiry. I am using Bankbazaar.com from the last one year of time and I like the response with them and the customer service is good too.
      Was this review helpful? 0
      , silchar
      Reviewed on May 23, 2017
    • HDFC Bank Personal Loan
      "Need to improve"
      0.5 2.0/5 "Expected more"
      From HDFC bank bank, nobody have contacted me for the personal loan and I have seen the interest rate as 14% for the personal loan, also am okay with that. I would like to suggest that they need to contact the customers, if they are interested in the products.
      Was this review helpful? 0
      , silchar
      Reviewed on May 23, 2017
    • Bank Bazaar Customer Support
      "Need some improvement"
      0.5 2.5/5 "Just OK"
      I am using Bankbazaar.com from the last two months of time and the website is easy to access. I have got the call from the Bankbazaar.com within two to three hours of time from the time of inquity, also i would like to recommend Bankbazaar.com to my friends.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 23, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.