Short term loan

As the name suggests, a short term loan is essentially a loan that can be availed for a shorter duration i.e. one year or less than that. This type of loan is usually unsecured and has a smaller repayment tenure. The interest for this type of loan is usually charged on the basis of principal advance amount and is usually issued to individuals having no credit history and for catering to their urgent fund requirements. If you are looking to avail a short term loan online, then you can easily apply for it on Upwards.

At Upwards, we provide short term loans up to 1 lakh at flexible EMI options and affordable interest rates. This loan is generally provided for one-five years at minimum processing fee. The application process for short term loan from Upwards is pretty simple and hassle-free. You can use the loan amount to fulfill your short term financial requirements including use of the funds for medical emergency, higher education, wedding expenses and others.

What is a short term loan?

Short term loan is a loan issued for a short tenure i.e. for less than a year of repayment. The cost of capital of such loans is lower than that of long tenure loans and the amount can be used for meeting any short-term loan requirements i.e. unexpected financial crisis or paying credit card bills or anything else

Benefits of Availing Short Term Loan

  • Use the funds for handling emergency situations that require financial assistance.
  • You don’t have to liquidate your investments
  • Get funds on the go
  • Competitive interest rates

Loan Terms

Loan AmountRanging from Rs. 20,000- Rs. 2,00,000
Annualised Interest RateRanging from 18% to 36%
Repayment TenureRanging from 12 to 36 months
Processing Fees2-4% of the loan amount

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Short Term Loan FAQs

What is the minimum credit score required when applying for a short term loan?
The minimum credit score required for applying for a short term loan with Upwards is 600.
Do I need to provide any collateral or a guarantor when applying for a short term loan from Upwards?
No, you do not have to provide any collateral or guarantor when applying for a short term loan from Upwards.
What is the processing fee charged when applying for a short term loan with Upwards?
Upwards charges a processing fee of 2-4% along with applicable taxes, if any when disbursing your short term loan amount.