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Short term Loan

Short term loans are loans which are essentially provided for a short tenure of less than one year. These are usually one time loans and can come in useful in case you are not able to obtain credit from a bank for a longer tenure loan. In case of these loans, the interest is usually payable on the principal advance amount and repayment tenures are shorter as compared to other types of loans. These loans are also made available to customers and businesses and may be provided by private finance companies or banks.