Overview
- Fixed Rate
- Variable Rate
A Term Loan can help when you are planning to purchase major fixed assets. Based on your short- or long-term business goals, you can choose either a fixed- or variable-rate loan.
Key benefits of the Term Loan for business:
- Flexible payment options and terms that allow you to match your loan to your cash flow
- Competitive fixed or variable interest rates
- Flexible repayment periods of up to 15 years
- Options to make partial or full pre-payments at any time
Fixed Rate
A Fixed-Rate loan offers you the peace of mind of consistent payments, regardless of fluctuations in base interest rates.
- Lock in at a specific fixed rate for lower borrowing costs when you make regular payments
- Maintain your budgeted costs even when base interest rates rise
- Make blended payments that can go towards principal and interest
Variable Rate
- A Variable-Rate loan provides you the opportunity to save on interest costs immediately when the base interest rate decreases.
- Save money when interest rates decrease
- Option to make partial or full pre-payments, penalty free