Fixed amount, fixed EMIs | Up to Rs. 50 lakhs | Tenure of up to 96 months.
A Term Loan is like a regular business loan. You borrow a certain amount of money, which is divided into equated monthly installments (EMIs) that consist of both the principal and the applicable interest.
You know your EMI and your repayment schedule from day one, which makes it easy to plan your monthly business budget.
There is a fee applicable for part-payment as well as foreclosure of your Term Loan before completion of your loan tenure.
All you need to know about our Term Loan
** Terms & conditions apply
Anyone can apply for our Term Loan if they meet the five basic criteria mentioned below. If you meet all the eligibility criteria, you will need a set of documents to complete your application process.
Eligibility Criteria
Documents Required
* You should be 70 years or younger at the end of the loan tenure.
Our representative will guide you on the next steps. The loan amount will be transferred to your bank account upon verification of your documents.
| Type Of Fee | Applicable Charges |
|---|---|
| Rate Of Interest (ROI) | 9.75% - 30% p.a. |
| Processing Fees | Up to 3.54% of the loan amount (inclusive of applicable taxes). |
| Bounce Charges | In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied. |
| Document Processing Charges | Up to Rs. 2,360/- (inclusive of applicable taxes). |
| Flexi Fee | Not Applicable |
| Penal Interest | Any delay in payment of monthly installment shall attract penal interest at the rate of 3.50% per month on the monthly installment, from the date of default until the receipt of monthly installment. |
| Pre-Payment Charges |
Full Pre-Payment Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment. Part Pre-Payment Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment. |
| Stamp Duty | Payable as per state laws and deducted upfront from the loan amount. |
| Mandate Rejection Charges | Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered. |
| Broken Period Interest/Pre-EMI Interest |
Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios: Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged: Broken period interest is deducted from the loan disbursement. Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, interest is charged only for the actual number of days since the loan was disbursed. |
| Annual Maintenance Charges | Not Applicable |
| Switch Fees | Not Applicable |
A Term Loan is an unsecured business loan where you borrow a fixed amount and repay it through equated monthly installments (EMIs) that consist of both principal and the applicable interest, over a tenure of 12 to 96 months.
In a Term Loan, you receive a fixed amount and repay it in fixed EMIs. A fee applies if you part-pay or foreclose the loan before the end of the tenure.
In Flexi Term and Flexi Hybrid loans, you get an approved limit from which you can withdraw funds and make part-prepayments without any part-prepayment charge. Flexi variants carry a Flexi fee, which is not applicable on the Term Loan.
Yes. A fee of up to 4.72% (inclusive of applicable taxes) applies, on the outstanding loan amount for full pre-payment, and on the principal amount prepaid for part pre-payment.
Self-employed individuals and business entities such as proprietary concerns, partnership firms and private limited companies can apply, provided they meet the eligibility criteria:
Cashdash considers a CIBIL Score of 685 or above as a good credit score. A strong business turnover and having all your documents in check also reflect positively on your profile.
You can use it for planned and unplanned business expenses such as leasing a larger office premise, renovating your workspace, purchasing or repairing machinery, upgrading technology, stocking up inventory, buying raw materials in bulk, or expanding your operations.
Your business must have been operational for a minimum of 3 years. You are also required to have filed your income tax returns for at least one year.
Click on the ‘Apply’ button on this page, enter your basic details and verify your profile with the OTP that you receive on your phone. Choose the Term Loan variant, select your amount and tenure, and complete your KYC.
A representative from Cashdash Technologies Private Limited. will contact you with the next steps. After approval of your loan application, you can get money in your account within 48 hours*.
** Terms & conditions apply