Majorly, personal loans are long-term and have high interest rates on the lent amount. However, there are a few personal loan types which can be taken for shorter duration also. A depositor can easily visit a bank for demand loan against old deposits, National savings certificate, LIC policy etc. What banks do is that they
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A short term loan is organized to be paid back within a year. There can be times when your business doesn’t have the capacity to apply for a long term/ business loan, which is why a short term loan. This is a useful source of finance for one time, short term tenure. The amount procured