What is Demand Loan?
Demand loan, often termed as Working Capital Demand Loan (WCDL) is basically the ready to repay loan on demand of the lenders. In demand loan, the financiers or lenders can ask for the lent money to be repaid by the borrower in relatively shorter duration. Also, the borrowers have the liberty to repay the amount anytime without facing any pre-payment charges. Unlike term loan where loans are sanctioned on a fixed tenure and repayment on instalment, demand loan is a form of short-term finance with no fixed tenure.
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