Loan
This query is : Resolved
INDRAJIT DAS
(Querist)
24 October 2015
what is cash credit loan , term loan and etc
Arpit Shah
(Expert)
26 October 2015
A term loan is a monetary loan that is repaid in regular payments over a set period of time. Term loans usually last between one and ten years, but may last as long as 30 years in some cases. A term loan usually involves an unfixed interest rate that will add additional balance to be repaid.
Arpit Shah
(Expert)
26 October 2015
A Cash Credit is a type of loan account provided by banks under corporate solution which helps to support working capital requirement. As the business requirements changes daily so is the working capital. A perfect product “Cash Credit” is a loan or continuous overdrawn facility unlike current a/c were overdrawn facility is provided occasionally.
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