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The repayment tenure of term loans ranges between 12 months to 60 months. Personal loans, business loans, auto loans, education loans, gold loans, and home loans are some examples of term loans.

Demand Loan Vs Term Loan FeatureDemand LoanTerm LoanPurposeShort-term business requirements such as purchasing working capital, raw materials, paying staff/rent, etc.Large capital requirements such as the purchase of land, expensive equipment, buying office/business space, etc.4 more rows

Typical personal loan terms vary by lender, but are often two to seven years. Some lenders offer terms as long as 12 years, but that's typically if you've borrowed a large amount. A personal loan with a term of three years or less may be considered a short-term loan.

Loan Term Example Let's say you have a 15-year fixed-rate mortgage. The loan term will then be 15 years. During this time, the loan must be paid off or refinanced during the term. Your loan can last for any length of time ? it just needs to be agreed upon by the lender and you as the borrower.

Concept 86: Four Cs (Capacity, Collateral, Covenants, and Character) of Traditional Credit Analysis. The components of traditional credit analysis are known as the 4 Cs: Capacity: The ability of the borrower to make interest and principal payments on time.

Loans come with different features that can change the security of the loan, the payments on the loan, and the interest rate of the loan. The main features include secured versus unsecured loans, amortizing versus non-amortizing loans, and fixed-rate versus variable-rate (floating) loans.