Commercial Loans are secured or unsecured advances offered to businesses. These loans can be utilised for a multitude of business purposes from buying inventory, scaling up operations, install new plant and machinery, etc. Commercial Loan interest rates usually vary depending upon the nature of credit. Generally, the interest rate on unsecured Commercial Loans are slightly higher due to a higher risk involved of sanctioning this loan.
The rate of interest on Commercial Loans also depend on whether the lender is offering fixed or floating interest rates. If it comes with a fixed interest rate, the borrower will have to pay the same interest throughout the tenor. On the other hand, a floating interest rate will change along with the market fluctuations.
Bajaj Finserv offers hassle-free Commercial Loans at an affordable rate of interest for businesses which require a quick financial solution to meet their growing needs.
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