Usually, Business Term Loans are used to pay for any upcoming large investments in a business such as an acquisition. These loans are standard commercial loans that are often based on fixed interest rates, a set loan maturity period and repayments that can be made monthly or quarterly. You can get a business term loan with two loan tenures – intermediate loan tenure and long term loans. Long term loans as the name suggests runs for about 10 or even 20 years until the entire loan has to be repaid and in most cases requires a collateral. Intermediate loan on the other hand are shorter tenure loans of maybe 3 years plus or minus a few years and usually repaid in monthly installments. The upside of taking a Business Term Loan is that you can receive financing with minimal total loan cost and monthly payments. You can avail these loans for any business purpose be it large capital investments, construction, capital improvements etc.
From the first local bank branch that opened in the 1960s at South Bridge Road in Singapore, Maybank has come a long way. With over 25 services locations, over 20 bank branches and over 35 ATMs in Singapore alone, the bank strives to provide the best products and services to the customers’ changing needs and desires. The value added financial services provided by the bank are done by incorporating the latest technological advances in the field that increases the effectiveness of their network at any point, any time. The Business Term Loan is one such value added service that is offered by Maybank that is completely designed to boost any company’s working capital. This loan can be availed for the purpose of securing numerous business opportunities, renovations and much more. Maybank offers an array of products to its customers including personal loans. Maybank personal loans are not available in Singapore but the bank offers a personal line of credit in the island.
The most interesting feature of the
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Business Platinum MasterCard Credit Card – Complimentary
Receive this Credit Card from Maybank with 5 years of Free Membership as a complimentary reward along with your Business Term Loan.
Once you submit the completed online form, an Account Manager will contact you within 2 business days and fix an appointment. You and your company’s representative will have to visit the preferred branch to open your account. The application for the account opening is strictly subject to the approval of the bank.
No. Maybank offers unsecured loans for the Business Term Loan. There is no collateral required for the application of this loan.
You can avail a maximum loan amount of up to SGD 500, 000 under the Maybank Business Term Loan. However, the approval of the loan amount is subject to the bank’s approval.
The ePROTECT safeloan feature is a decreasing term insurance that will pay off your Business Term Loan outstanding amount in case of any misfortune that may befall you.
You can choose a loan tenure of up to 5 years under the Business Term Loan offered by Maybank. You can make easy monthly repayments at low interest rates under this loan.