Spot TL Loans are loans that are designed to meet your short-term cash needs and whose amounts, interest rates, and terms are all locked in according to market conditions on the date the loan is issued. The interest rates are generally lower on these loans than on other credit products. Interest is paid along with the payment of the principal.
Features and Benefits
With Spot TL Loans with early payment option, you can take out a loan without being bound to a due date.
- Spot TL Loans with early payment option can be paid off partially or completely before their due dates.
- In the event of partial or complete early payment, the interest and other charges due on the amount of principal paid are also collected.
- When the loan is issued, the rate of interest is locked in as well. This makes cash management easier as it enables you to know in advance the amount of interest you'll have to pay.
- It provides financing for your short term cash needs.