Top Term Loan Providers in Visakhapatnam - Instant Loans

Top List of Term Loan Providers in Visakhapatnam. Get an instant Term Loan with low interest rate, Also apply for Short term loan, Long term loan, personal loan, and more. Find the best Term Loan service providers near your location. as on Oct 05, 2024

Sri Sai Teja Home Deals

Dondaparthy, Visakhapatnam, 530016

5.0/5 Based on 5 Reviews

+07569002704

+10 more

Response Time: Within 15 MinsSulekha score: 8

Sri Sai Teja Home Deals, located in Dondaparthy, Visakhapatnam, is a reputable finance company offering a wide range of financial services. Established in 2000, the company is led by A. Srinivasa Rao and specializes in providing home loans, mortgage loans, business loans, personal loans, and plot loans. They are committed to helping individuals and businesses achieve their financial goals with customized loan options tailored to various needs. Whether you are looking to purchase a home, refinance, or obtain funding for your business, Sri Sai Teja Home Deals strives to make the process efficient and transparent

Available Loan Types:

Offering 10+ different types of loans

Loan Amount Range:

From ₹10 Lakhs to ₹1 Crore and above
Depending on the type of loan

Satish p from Visakhapatnam

"Very good and exlent service Very good knowledge persons "

Bharatgi from Visakhapatnam

"Good service, well known persons, genuine work "

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SV Fin Serv

Akkayyapalem, Visakhapatnam, 530016

+09021118433

Loans Business Loans CC Limit Loans

+13 more

Response Time: Within 15 MinsSulekha score: 4.9

SV Fin Serv, located in Akkayyapalem, Visakhapatnam, is a reputable financial service provider offering a wide range of loan options tailored to meet diverse needs. They specialize in various types of loans, including personal, home, business, and vehicle loans, providing flexible financing solutions for individuals and businesses. With a customer-centric approach, SV Fin Serv ensures hassle-free processing and quick disbursement of loans. Their services are marked by transparency, competitive interest rates, and personalized financial advice to help clients make informed decisions. They have built a strong reputation in the region for their reliability and commitment to customer satisfaction?

Available Loan Types:

Offering 20+ different types of loans

Loan Amount Range:

From less than ₹1 Lakhs to ₹1 Crore and above
Depending on the type of loan

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Global Indo Financial Services

Sector 52, Chandigarh, 160059

( Also serves in Visakhapatnam )

4.6/5 Based on 9 Reviews

+09021122700

Loans Business Loans CC Limit Loans

+6 more

Response Time: Within 15 MinsSulekha score: 7

Global Indo Financial Services, located in Sector 52, Chandigarh, offers a range of financial services including personal loans, home loans, business loans, and loans against property. The firm is known for providing customized solutions to meet individual financial needs. With a focus on quick processing and transparent terms, they cater to clients across Chandigarh. Their team of experts is dedicated to ensuring a seamless loan application experience. They are highly rated by users for their professional approach and customer satisfaction?

Available Loan Types:

Offering 8 different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹1 Crore
Depending on the type of loan

Arun from Chandigarh

"Trustable company I applied loan last few day's ago nd maximum he will take 7/10 days for disbursement loan amount without any extra charges I received my amount yesterday in bank account. "

Guest from Chandigarh

"Most trusted company "

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Gourav Enterprises

Model Town, Sonipat, 134003 ( Also serves in Visakhapatnam )

+08035426822

Loans Business Loans CC Limit Loans

+11 more

Response Time: More than 60 MinsSulekha score: 6.5

Welcome to Gourav Enterprises, your one-stop destination for all your loan needs. We are a trusted and reliable company that has been serving our customers since our establishment in Model Town. Our team of experts is dedicated to providing you with the best loan solutions for your home, mortgage, unsecured, personal, private finance, and business needs. With a variety of options ranging from 2 to 15 lakhs, we cater to all your financial requirem ... less

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Shri Vinayak Enterprises

Vaishali Nagar, Jaipur, 302021

( Also serves in Visakhapatnam )

Loans Business Loans CC Limit Loans

+12 more

Sulekha score: 7.8Working hours: 10 PM to 7 PM

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Punith

Laggere, Bangalore, 560078 ( Also serves in Visakhapatnam )

Loans Business Loans CC Limit Loans

+13 more

Sulekha score: 7.1Working hours: 10 AM to 6 PM

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Instant Finanace

Ganjem, Goa, 110025 ( Also serves in Visakhapatnam )

3.4/5 Based on 5 Reviews

Loans Business Loans CC Limit Loans

+6 more

Sulekha score: 5.6Working hours: 10 AM to 6 PM

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Praveenkumar B V from Goa

" Communication 5/5 responsiveness 5/5 good price 5/5 ontime services 5/5 Service Quality 5/5"

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Sri Balaji Associates

Begumpet, Hyderabad, 500016

( Also serves in Visakhapatnam )

4.9/5 Based on 7 Reviews

Loans Business Loans CC Limit Loans

+10 more

Sulekha score: 7.5Working hours: 09:00 am to 05:00 pm

Sri Balaji Associates, located in Begumpet, Hyderabad, is a well-established partnership firm founded in December 2007. The firm primarily operates in the financial services sector, focusing on various loan services including home loans, business loans, mortgage loans, and personal loans. Their office is situated at Mehar Manjil, Dwarakapuri Colony, Punjagutta, Hyderabad. Classified as a micro-enterprise under MSME, Sri Balaji Associates has been serving the community for over 16 years, offering customized financial solutions to meet the diverse needs of its clients. The firm is known for its reliable services in the financial domain and maintains a strong presence in the local market.

Available Loan Types:

Offering 12 different types of loans

Loan Amount Range:

From ₹10 Lakhs to ₹1 Crore
Depending on the type of loan

arunprasad from Hyderabad

"Personal loqn"

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Arti Financial Services

Delhi Cantt, Delhi, 110010

( Also serves in Visakhapatnam )

+08048092183

Loans Business Loans CC Limit Loans

+5 more

Sulekha score: 7.5Years of Experience: 8

Arti Financial Services, located in Delhi Cantt, Delhi, specializes in providing a wide range of financial services, including business loans, personal loans, and private finance loans. With over eight years of experience, they are known for their prompt response time, often within 15 minutes, ensuring quick and efficient service to their clients. They cater to both individuals and businesses, offering tailored financial solutions to meet diverse needs. Whether you are looking for secured or unsecured loans, Arti Financial Services provides flexible terms and competitive rates to help manage financial requirements effectively

Available Loan Types:

Offering 2 different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹1 Crore and above
Depending on the type of loan

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Shriram Finance Limited

Woodpeta, Visakhapatnam, 531001

Unverified

+07669343423

Loans Business Loans Car Loans

+12 more

Shriram Finance is the country’s biggest retail NBFC offering credit solutions for commercial vehicles, two-wheeler loans, car loans, home loans, gold loans, and personal and small business loans. In November 2022, Shriram Group’s entities – Shriram Transport Finance Company Limited, Shriram City Union Finance Limited, and Shriram Capital Limited – merged to form Shriram Finance Limited. Shriram Finance has a network of 2,922+ branches and a work ... less

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Why Choose Sulekha?

Sulekha is your go-to platform for finding a wide variety of loan providers catering to diverse financial needs such as personal loans, term loans, home loans, vehicle loans, car loans, education loans, and more. With Sulekha, you gain access to a comprehensive network of reputable lenders, ensuring you find the perfect match for your specific requirements. The platform simplifies your search process, saving you time and effort by connecting you with trusted professionals who can offer tailored loan solutions. Choose Sulekha for a seamless and efficient loan-seeking experience.

1. When to Consider Taking Out a Term Loan?

Business Expansion: Opening new locations or upgrading facilities often requires significant capital. A term loan can provide the necessary funds to support these growth initiatives, allowing you to spread out the costs over time.
Large Capital Expenditures: When purchasing expensive equipment or real estate, a term loan can be beneficial. This allows businesses to invest in assets that enhance productivity and profitability without depleting cash reserves.
Refinancing Existing Debt: Consolidating multiple high-interest debts into a single term loan with a lower interest rate can reduce overall interest payments and simplify financial management, making it easier to focus on business operations.
Stable Revenue Stream: If your business has a predictable revenue stream, managing the monthly payments of a term loan can be feasible. This stability ensures that loan repayments can be made without disrupting other financial commitments.
Specific Funding Needs: For working capital, marketing campaigns, or product development, a term loan can provide the required funds. This targeted use of the loan can drive future revenue growth and operational efficiency.
Building Credit History: For new businesses, taking out a term loan and making timely payments can help establish and build a strong credit history. This can improve future borrowing terms and overall financial credibility.
Emergencies and Unexpected Opportunities: Term loans can offer quick access to funds during emergencies or when lucrative business opportunities arise. This flexibility allows you to address urgent needs or capitalize on time-sensitive opportunities.

2. Eligibility Criteria for Taking a Term Loan?

Age of the Applicant: Individuals should typically be between 21 to 65 years old at the time of loan maturity. For businesses, lenders generally require the business to have been operational for at least 2-3 years.
Credit Score: A good credit score is crucial, with most lenders preferring a score of 650 or above. A higher credit score can increase the chances of loan approval and may result in more favorable terms and interest rates.
Income and Employment Stability: Individuals must provide proof of steady income through salary slips, income tax returns, and bank statements. Businesses need to show financial statements, tax returns, and consistent revenue over the past few years to demonstrate financial stability.
Business Financial Health (for business loans): Lenders look for profitable businesses with positive cash flow to ensure loan repayment ability. Detailed financial records and a clear picture of future earnings potential are essential for approval.
Collateral: Term loans are often secured, requiring collateral such as property, equipment, or other valuable assets. The value and type of collateral can significantly impact the loan amount and terms offered by the lender.
Loan Purpose: Clear documentation and explanation of the loan purpose, whether for business expansion, equipment purchase, or working capital, is essential. This helps lenders understand how the loan will be used and its expected benefits.
Existing Debt: Lenders assess existing debt obligations to ensure the applicant can manage additional loan repayments without financial strain. A manageable level of existing debt improves the chances of loan approval.
Business Plan (for business loans): A detailed business plan outlining the loan purpose, expected benefits, and repayment strategy is crucial. This plan helps lenders understand how the loan will contribute to business growth and profitability.
Legal and Regulatory Compliance: The business should comply with all relevant laws and regulations, and proper licensing and permits should be in place. Compliance ensures that the business operates within legal boundaries, reducing risks for lenders.
Relationship with the Lender: Existing relationships with the lender, such as maintaining business accounts or previous loans, can be beneficial. A good repayment history with the lender can positively influence the loan approval process and terms.

3. What are the Benefits and Advantages of a Term Loan?

Predictable Repayment Schedule: Term loans come with fixed monthly payments, making it easier for borrowers to budget and manage cash flow. They have a specific end date, providing clarity on when the debt will be fully paid off.
Fixed Interest Rates: Many term loans have fixed interest rates, ensuring that the cost of borrowing remains constant throughout the loan term. This stability protects borrowers from fluctuations in interest rates.
Larger Loan Amounts: Term loans often provide larger sums of money compared to other types of loans, making them suitable for significant investments such as business expansions, equipment purchases, or real estate acquisitions.
Flexibility in Usage: Borrowers can use term loan funds for various purposes, including working capital, purchasing assets, refinancing other debts, or funding specific projects.
Builds Credit History: Successfully repaying a term loan can help improve the borrower's credit score, enhancing their ability to secure future financing on favorable terms.
Interest Tax Deduction: For businesses, the interest paid on term loans is often tax-deductible, reducing the overall cost of borrowing.
Longer Repayment Periods: Term loans can have extended repayment periods, sometimes up to 10-30 years for real estate loans, making the payments more manageable.
Structured Repayment Plans: Many term loans are amortized, meaning each payment covers both interest and principal, gradually reducing the loan balance over time.
Potential for Lower Interest Rates: If the term loan is secured by collateral (such as property or equipment), borrowers may benefit from lower interest rates compared to unsecured loans.
Enhanced Business Growth: Term loans provide the necessary capital for businesses to invest in growth opportunities such as expanding operations, entering new markets, or developing new products.

4. Important Factors to Consider When Taking a Term Loan?

Interest Rate: Determine whether the interest rate is fixed or variable, as this affects your monthly payments and total interest cost. Look at the Annual Percentage Rate (APR), which includes the interest rate plus any fees or other costs, providing a more accurate picture of the loan's overall cost.
Loan Amount: Ensure the loan amount meets your financial needs without being excessive, as borrowing more than necessary can lead to higher interest payments. It's crucial to find a balance that covers your needs but remains manageable.
Repayment Term: Consider whether a short-term or long-term repayment period is better for your financial situation. Shorter terms generally have higher monthly payments but lower total interest costs, while longer terms have lower monthly payments but higher overall interest.
Monthly Payment: Ensure the monthly payment is affordable within your budget. Use a loan calculator to understand how different terms and interest rates impact your payments, helping you to choose a loan that fits your financial plan.
Fees and Charges: Be aware of any origination fees, prepayment penalties, and late fees associated with the loan. These can significantly impact the overall cost and flexibility of the loan.
Credit Score Requirements: Your credit score affects your eligibility and the interest rate offered. Ensure your credit score meets the lender's requirements to qualify for favorable terms, and work on improving it if necessary.
Collateral: Determine if the loan is secured or unsecured. Secured loans require collateral, which can be seized if you default, while unsecured loans do not require collateral but typically have higher interest rates.
Lender's Reputation: Research the lender’s reputation, customer service, and reviews. A reputable lender will offer transparent terms and good customer support, ensuring a smoother loan process.
Loan Purpose: Clearly define the purpose of the loan and ensure it aligns with your financial goals. Different loans may have specific terms based on their intended use, such as business expansion or home renovation.
Economic Conditions: Consider current and future economic conditions that may affect your ability to repay the loan. Economic downturns can impact your income and employment, affecting your repayment capacity.
Documentation and Eligibility: Understand the required documentation and ensure you meet all eligibility criteria, such as proof of income and employment history, to avoid delays or rejections.
Legal and Regulatory Aspects: Be aware of any legal or regulatory requirements related to the loan, especially if borrowing from a foreign or online lender, to ensure compliance and avoid potential legal issues.

5. Term Loan Interest Rates?

Bank Name	Term Loan Interest Rate (per annum)	Loan Amount	Tenure Range
State Bank of India	7.50% - 10.25%	Up to ₹2 crore	1 - 15 years
HDFC Bank	8.25% - 11.50%	Up to ₹10 crore	1 - 15 years
ICICI Bank	8.35% - 11.75%	Up to ₹5 crore	1 - 10 years
Axis Bank	8.40% - 11.90%	Up to ₹5 crore	1 - 10 years
Punjab National Bank	7.75% - 10.50%	Up to ₹1 crore	1 - 10 years
Bank of Baroda	7.60% - 10.40%	Up to ₹2 crore	1 - 12 years
Canara Bank	7.85% - 11.20%	Up to ₹2 crore	1 - 12 years
Kotak Mahindra Bank	8.50% - 12.00%	Up to ₹10 crore	1 - 15 years
Union Bank of India	7.70% - 10.75%	Up to ₹1 crore	1 - 10 years
IDFC First Bank	8.75% - 12.50%	Up to ₹5 crore	1 - 10 years

Please note: Interest rates and fees can vary based on the loan amount, tenure, credit profile of the borrower, and specific bank policies. It is advisable to check with the respective bank for the most accurate and updated information.

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Most Common Questions About Term Loans

1. Who are the best Term Loan providers in Visakhapatnam?

2. What documents are required for a Term loan?

You will typically need identification proof (like a PAN card or passport), address proof (such as a utility bill or Aadhaar card), income proof (like salary slips or IT returns), bank statements, and any collateral documents if required.

3. What are the eligibility criteria for a Term loan?

Eligibility criteria generally include a minimum age (usually 21 years), stable income, a good credit score, and fulfilling the lender's specific employment or business requirements. Collateral may be required for secured term loans.

4. How do I apply for a Term loan online?

To apply online, you can apply online with the Sulekha form above with your loan requirements, and connect with the best loan providers that suit your needs. Visit the lender's website, fill out the application form with personal and financial details, upload the required documents, and submit the form. You'll receive a response from the lender after they review your application.

5. How can I get an instant Term loan?

Instant term loans can be obtained from lenders offering quick disbursement services. Ensure you meet their eligibility criteria, have all required documents ready, and apply online through their quick approval process.

6. What is the percentage rate for Term loans?

The interest rate for term loans varies depending on the lender, borrower’s credit profile, loan amount, and tenure. Rates typically range from 8% to 18% per annum but can differ based on individual circumstances and market conditions.

7. Can I get a Term loan with a low CIBIL score?

It is possible, but challenging, to get a term loan with a low CIBIL score. Lenders may charge higher interest rates or require collateral. Improving your credit score beforehand can increase your chances of approval.

8. What is the processing fee for a Term loan?

Processing fees for term loans vary by lender and are generally between 1% to 2% of the loan amount. Some lenders may also have a minimum fee regardless of the loan size.

9. Can I get a Term loan with a bad credit score?

Obtaining a term loan with a bad credit score is difficult but possible. You may need to provide collateral or a co-signer, and expect higher interest rates. Some specialized lenders cater to high-risk borrowers.

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Top Term Loan in Visakhapatnam

What type of business loan do you need?

Find the Top Term Loan Providers from Sulekha in Visakhapatnam

Top List of Term Loan Providers in Visakhapatnam. Get an instant Term Loan with low interest rate, Also apply for Short term loan, Long term loan, personal loan, and more. Find the best Term Loan service providers near your location. as on Oct 05, 2024

Sri Sai Teja Home Deals

SV Fin Serv

Global Indo Financial Services

Gourav Enterprises

Shri Vinayak Enterprises

Punith

Instant Finanace

Sri Balaji Associates

Arti Financial Services

Shriram Finance Limited

Why Choose Sulekha?

1. When to Consider Taking Out a Term Loan?

2. Eligibility Criteria for Taking a Term Loan?

3. What are the Benefits and Advantages of a Term Loan?

4. Important Factors to Consider When Taking a Term Loan?

5. Term Loan Interest Rates?

Most Common Questions About Term Loans

1. Who are the best Term Loan providers in Visakhapatnam?

2. What documents are required for a Term loan?

3. What are the eligibility criteria for a Term loan?

4. How do I apply for a Term loan online?

5. How can I get an instant Term loan?

6. What is the percentage rate for Term loans?

7. Can I get a Term loan with a low CIBIL score?

8. What is the processing fee for a Term loan?

9. Can I get a Term loan with a bad credit score?

Tips & Solutions for Applying Loan View All Blogs

Home Buying Trends 2021

Important Things That NRIs Should Know About Home Loan In India

Home Loan Agreement- Important clauses to know!

How To Avoid Rejection Of Your Personal Loan Application