{"id":26845,"date":"2015-03-16T04:39:13","date_gmt":"2015-03-16T04:39:13","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=26845"},"modified":"2024-04-03T13:15:54","modified_gmt":"2024-04-03T07:45:54","slug":"short-term-bank-loan","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/short-term-bank-loan\/","title":{"rendered":"Short Term Bank Loan"},"content":{"rendered":"

\"Short<\/a><\/p>\n

In the case of short term finance, unsecured bank loan is one of the popular
\nsources of finance. This kind of loan may be of different types.<\/p>\n

For example, in
\nthe case of short term bank loan, usually interest with principle amount has to be
\nrepaid at a time after a specified time period. Many times, bank tries to collect
\nfull portion or part of the sanctioned loan before the specified time period and for
\nthis purpose bank gives discount on the total amount receivable as an incentive
\nof earlier payment. For example, if a creditor repays 6000 \u00a0before the expiry
\nof the credit term of 6 months, then he can give 2% less than the total amount,
\nthat means, the creditor can repay 4800 .
\nBesides, if the creditor agrees to repay on demand instead of agreeing on a fixed
\nterm, then this type of loan is called \u201cDemand Loan\u201d.<\/p>\n

The institutions which
\nhave alternative sources of finance can use this source at a low cost of capital.
\nBank Overdraft is another type of short term bank loan. Every institution usually
\nrealizes its receivables and repays its payables through current account. This type of
\nbank account mainly gives to its account holders the opportunity of withdrawing
\nmore than the amount of savings in this account; however, the bank restricts the
\nmaximum amount of overdraft. Generally, finance collection from this type of
\nsource is a well-known system for those institutions where sales decrease for some
\ntime of a year.<\/p>\n

As an example it could be mentioned, an ice cream factory spends
\nmoney throughout the year for production, warehousing, management etc. but
\nmaximum amount of ice cream is sold in Summer season, so for the purpose of
\nfinancing in other time of the year this type of source can be used. Generally, in the
\ncase of other types of loan, interest has to be paid till the full repayment of loan, but
\ninterest for such types of loan has to be paid only when this loan is being used.
\nHowever, the rate of interest of this type of loan is higher than the other types of
\nloan and it is repayable on demand.<\/p>\n

Click here for government certification in Accounting, Banking & Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In the case of short term finance, unsecured bank loan is one of the popular sources of finance. This kind of loan may be of different types. For example, in the case of short term bank loan, usually interest with principle amount has to be repaid at a time after a specified time period. Many…<\/p>\n","protected":false},"author":625,"featured_media":26869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519],"tags":[2645,2646,2644,2643,2642],"class_list":["post-26845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","tag-bank-overdraft","tag-demand-loan","tag-easy","tag-loan","tag-short-term"],"acf":[],"yoast_head":"\nShort Term Bank Loan - Vskills Blog<\/title>\n<meta name=\"description\" content=\"How does the short term bank loan serve as a good financing scheme?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/blog\/short-term-bank-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Short Term Bank Loan - 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