| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 16,118 | ₹ 1,280 | ₹ 17,398 | ₹ 83,882 | 16.12 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 83,884 | ₹ 3,106 | ₹ 86,990 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
With the massive growth of GDP, the Indian economy is changing dramatically and many opportunities are emerging day by day. The demand for all types of commercial enterprises is increasing intensely; hence the demand for loans, specifically term loans for business, is also increasing with time. The need for secured loans to start a business in order to provide an opportunity to reap financial benefits is a huge concern. The best way to enhance the development of a business is to obtain loans. With these loans, you can attain all the necessary capital requirements of your company. However, getting a business loan has become an essential part of the entrepreneurial process. People are trying their best to provide that much-needed finance. But based on the massive business loan market, it is quite a task to get your hands on a reliable lender.
If you are looking for a loan and do not know where to start, or maybe you are seeking your first business bank loan and are not sure what to expect, you have come to the right place. FlexiLoans is a direct lender, with years of experience in helping businesses and people just like you secure the financing they need to succeed. With an innovative vision of providing “Financial Access at a Click”, FlexiLoans has served 10,000+ clients across the country.
Benefits of FlexiLoans Term Loan |
||
|
Cheaper Interest Rates |
Flexible and Customized |
Maintains Cash Flow |
|
Quick Approvals |
Preserves Ownership Equity |
Higher Loan Amount |
Personal KYC
Residential Address Proof
Last six months' current account bank statement
GST registration certificate, shops, and establishment certificate
2 years of audited financials, the last 2 years of ITR, and 6 months of GST returns (only for loans more than Rs. 15 Lakhs)
The minimum age to apply for the loan is 21 years old and the maximum age is 65.
Business must be at least a year old and have monthly sales of at least Rs. 2 Lac
The company must be Tax Compliant
GST is mandatory for all applications of Rs. 5 lacs loan or greater
Any individual corporations, sole proprietors, and private companies involved in trading, production, or services can apply.
A term loan is a commercial credit that allows you to borrow money for a fixed period of time, such as one or five years, with a predetermined interest rate. You'll make regular monthly payments until the debt is paid off.
FlexiLoan term loan interest is tax-deductible, so you get a double benefit by paying less in taxes and getting a lower interest rate.
It takes just 5 minutes to apply for a FlexiLoans Term Loan. Just upload your documents easily online and they'll check them for any problems. Once approved, the loan funds will be deposited into your account.
The minimum age of the applicant to apply for a FlexiLoans Term Loan should be 21.
The maximum amount that an applicant can borrow with FlexiLoans Term Loan is Rs.1 Crore.
Consultant
