Interested in financial products

A line of credit provides a ready source of funds for your various business needs. You can withdraw cash from the line of credit up to your credit limit, as many times as you want. Let’s say, you are approved for a line of credit of Rs. 5 lakhs. You can withdraw cash any number of times from the line of credit until your limit of Rs. 5 lakhs is reached.

However, remember that the amount you withdraw from a line of credit needs to be repaid within a specific time with interest. The interest charged depends on the amount you have withdrawn and not the entire available limit. Let’s say, you withdraw Rs. 50,000 from your line of credit of Rs. 5 lakhs. Then, you have to pay interest only for Rs. 50,000 and not for the entire Rs. 5 lakhs. The line of credit remains active for a specific period approved by your lender.

Apply for a credit score
×Thank you! Your comment will be reviewed and posted shortly.