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    What is the main difference between a term loan and an overdraft

    May 6th, 2010 by
  • Term loans are usually given for a longer time period, up to three years. This makes them a slightly long-term product which also comes with a specific repayment structure. The situation is different with an overdraft that is usually sanctioned for a period of one year and then rolled over, depending upon the circumstances. Also, it has no specific repayment structure.

    Published on May 6, 2010 · Filed under: Business Loan FAQs; Tagged as: , , ,
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