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Term Loans up to ₹1 Cr
Expand Your Business with InvestKraft’s Term Loans
Low Interest Rates
Flexible Repayment Tenure
Quick Processing
Why InvestKraft?
We are India’s fastest growing fintech company with all BFSI services on one platform.
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What is Term Loan?
A term loan meaning is simple. It is a type of loan where you borrow a fixed amount and repay it in regular EMIs over a period of time, called the loan term. There are two types of term loans:
- Short-term loans: These are great for quick requirements like for purchasing raw materials or for seasonal cash flow gaps. Repayment tenure is usually within a year.
- Long-term loans: These types of loans are required for huge investments like buying a new machine, office space or for business expansion. Repayment tenure can be up to 25 years.
Term Loan EMI Calculator
For your business loan, you can use our term loan EMI calculator to find out EMI for your short term loans online:
Features and Advantages of Term Loan with InvestKraft
The following are some of the exceptional features and advantages of our term loans for your business requirements:
Fixed Loan Amount
You can get a fixed lump sum amount in your account without any delays. You can use our calculator to find out the EMI and make informed decisions.
Repayment Schedule
With InvestKraft, repaying your term loan is burden-free. You can pay back easily in monthly EMIs over a set period of time as per your pre-decided schedule.
Flexible Tenure
Plan your finances better by choosing a loan term as per your repayment capacity. With short terms and long terms, repaying your loan has never been easier.
Competitive Interest Rates
With InvestKraft’s attractive term loan interest rates, you can confidently apply for a term loan and take your business to new heights.
Purpose-Based Lending
Need funds for something specific? Do not worry, our term loans are for your every business need. Whether you are planning to buy new equipment or to expand to a new location, we have got you covered.
Advantages of Term Loan
Imagine your business income is like a river. Sometimes it flows smoothly, sometimes it slows down. A Term Loan is like a steady stream flowing into your business. You know exactly how much you need to pay back each month, helping you keep your financial boat afloat even when the river gets a little choppy.
Think of a Term Loan as a versatile tool in your business toolbox. You can use it to buy new equipment, hire more staff, rent a bigger office – whatever you need to grow and succeed. It's like having a handyman who can fix any problem or build anything you dream up.
Paying your bills on time is like building trust. When you consistently repay your term loan, lenders will see that you're a responsible borrower. This builds a strong credit history, making it easier to get loans in the future – like having a good reputation that opens doors for you.
Imagine your business as a young tree. To grow tall and strong, it needs nourishment. A Term Loan provides that nourishment – the extra funds to invest in new ideas, reach new customers, and expand into new markets. It's like giving your business the fuel it needs to reach its full potential.
Budgeting can feel like a complicated puzzle. But with a Term Loan, you have one less piece to worry about. You know exactly how much you'll pay each month, making planning your finances easier and avoiding unexpected surprises. It's like having a roadmap that makes it easier to reach your financial goals.
Eligibility Criteria for Term Loan
Let us see the eligibility criteria for a term loan from the following table:
| Criteria | Details |
|---|---|
| Credit History | A good credit score is essential to qualify for a term loan (usually above 650) |
| Business Viability | Your business should have a profitable and stable plan or operations. |
| Repayment Capacity | You must show a clear ability to repay the loan on time. |
| Collateral (if required) | Some lenders may ask for assets as security, especially for long-term loans. |
| Business Registration | Your business must be legally registered under applicable laws. |
Please note that these are the basic eligibility criteria. Depending on your credit score, your loan requirement, your financial situation and your lender, the eligibility criteria may change.
Documents Required for Term Loan
There are certain documents that are required for term loan, the following table lists important documents required for term loan:
| Document Type | Details |
|---|---|
| Business Registration Proof | Certificate of Incorporation, Partnership Deed, GST registration and others |
| Financial Statements | Recent Profit & Loss Account, Balance Sheet and more |
| Income Tax Returns | Latest ITRs for both individual and business |
| KYC Documents | Aadhaar, PAN Card, Driving License, Passport (ID and Address proof) |
| Bank Statements | Last 6 months’ bank account statement |
| Project Report | Required if applying for large investments or expansion loans |
| Collateral Documents | Property papers or asset ownership proof (if the loan is secured) |
Please note that these are the basic documents required. However, depending on your lender and your financial situation, there may be a requirement for more documents.
Who Can Apply for Term Loan?
With InvestKraft, applying to term loan is simple, safe and super fast.
Small and Medium Enterprises (SMEs)
Startups
Established Businesses
Self-employed Individuals
Farmers
How to Apply for Term Loan from InvestKraft?
In just 4 easy and simple steps, get your term loan in your account.
01
Visit InvestKraft Website
Explore loan options and submit an online application
02
Document Submission
Submit the required documents as per the checklist.
03
Loan Application Review
Lenders at InvestKraft will assess your application and eligibility.
04
Disbursement
Upon approval, the loan amount will be disbursed to your bank account.
Rate of Interest and Other Charges on Term Loans
Like every other loan, term loans have interest rates and other charges. The following table shows the interest rate and other charges associated with term loan:
| Particulars | Details |
|---|---|
| Interest Rate | Varies from 10% to 42% per annum, depending on loan type and profile |
| Processing Charges | Usually 0.5% to 2.50% of the total loan amount |
| Pre-closure Charges | Typically 2% to 5% of the outstanding loan amount + 18% GST |
| Bounce Charges | Generally fixed at INR 500 + taxes by most banks and NBFCs |
Types of Business Loans
The following are some of the most required business loans. You can apply as per your requirement:
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