Term Loan

A Term Loan is a financial product designed to meet your short- or long-term capital requirements. Whether you need funds for expanding your business, making investments, or meeting other personal expenses, a Term Loan from RIFS can help you achieve your financial goals. With flexible loan tenures, competitive interest rates, and customized repayment plans, RIFS ensures you get the financial assistance you need with minimal effort.

Eligibility Criteria

To be eligible for a Term Loan from RIFS, the following criteria apply:

• Age:
  • Minimum age: 21 years
  • Maximum age at loan maturity: 65 years
• Income: Proof of stable income is required for salaried individuals or business owners
• Credit Score: A strong credit score is preferred
• Business Profile: For business owners, a stable business with a proven track record is necessary.

Documents required

The documents required for a Term Loan application with RIFS typically include:

• Identity and Address Proof

PAN Card, Aadhar Card, Passport or Voter’s ID

• Income Proof

Recent pay slips for salaried individuals

Income Tax Returns (ITR) for self-employed applicants

• Banking Documents

Latest bank statement or updated passbook

• Business Documents (for business applicants)

Financial statements, including balance sheets and profit & loss account

Business registration documents

RIFS ensures that you can access the financial support you need with a quick, easy, and transparent loan process.