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Querist : Anonymous

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Querist : Anonymous (Querist)
03 September 2013 does amount borrowed from bank for vehicle loan 4 wheeler be called as term loan
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
03 September 2013 Term loan means repayment shall be made in equal installments for certain period with equal inter-wells say monthly, quarterly,half yearly,yearly.

So any loan with above nature shall be called as Term loan.

So in your case the loan have the above nature then it is called as term loan.

Generally vehicle loans are term loans because of repayment shall be made in installments.

OM SAI SRI SAI JAI JAI SAI
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Sanket

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Sanket (Expert)
03 September 2013 Yes, it is considered as Term Loan.
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Querist : Anonymous

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Querist : Anonymous (Querist)
04 September 2013 thanks a lot friends !

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