Did You Know?
We serve loans, the best way you can borrow
Financial stability starts with smart borrowing decisions that match your repayment capacity. A long term loan gives you extended time to repay your borrowed amount in smaller monthly payments. You receive a substantial amount upfront and pay it back gradually through structured monthly instalments.
We at lendingplate make long term loan applications straightforward. Our digital platform processes your loan request quickly – so you receive funds faster. You get competitive interest rates starting from 12% per annum with flexible repayment options. We evaluate your repayment capacity thoroughly before approval.
Here are the key features of Long-Term Loans: -
Extended Repayment Tenure
Long-term loans at lendingplate have extended tenures ranging from 3 to 15 months. Hence, borrowers can repay the loan within a sufficient period.
Higher Loan Amount
Borrowers can access loans for higher amounts till ₹2,50,000 with flexible repayment options. This helps fulfil larger expenses like business expansion or higher education.
Competitive Interest Rates
These loans are available at a competitive interest rate starting from 12% per annum. Borrowers with higher credit scores get the best interest rates.
Low EMI burden
Due to a longer tenure, the monthly instalments become lower. This makes repayment more manageable.
No Collateral Needed
These are unsecured loans, so there is no need for any collateral. You don’t have to pledge any property or asset to get a loan.
Flexible Usage of Funds
Long-term loans can be used for various purposes like business growth, home renovation, education, asset purchase, etc. There is no restriction on end usage.
Our long term loans give you the financial flexibility to fulfil major expenses without straining your monthly budget.
A quick online approval process
Manageable monthly payments spread out
Structured repayments match your income
Get started with your long term personal loans application through our simple digital process.
Review criteria before applying online
Submit KYC and income proof
We validate your application details
Receive funds in your account
Long term loans online serve multiple purposes – helping you meet various financial requirements. Our flexible loan options support different needs.
Education Support
Take charge of your academic dreams through our education financing options. We support both domestic and international education expenses – including tuition fees, living costs and study materials. The repayment schedule aligns with your course duration giving you peace of mind while studying.
Vehicle Purchase
Make your dream vehicle yours with our auto financing solutions. We fund both new and pre-owned vehicles with competitive interest rates and flexible tenures. The structured EMIs match your monthly income letting you maintain financial stability while owning your chosen vehicle.
Home Improvement
Give your home a fresh look with renovation financing that covers all aspects. From basic repairs to complete makeovers, we support your home improvement plans. The extended repayment period helps you manage costs while creating your ideal living space.
Business Growth
Expand your business operations with adequate funding support. Whether you need inventory, equipment, or working capital, our business loans fuel your growth plans. The longer repayment tenure helps maintain healthy cash flow during business expansion.
Medical Expenses
Focus on recovery without financial stress through our medical financing options. We cover planned and emergency medical expenses – including treatments, surgeries and post-care needs. The flexible repayment terms consider your recovery period and earning capacity.
Debt Management
Take control of multiple debts by consolidating them into one manageable loan. Lower your monthly outgo with extended tenure and better interest rates. The simplified payment schedule helps you track and manage your finances effectively.
You need to understand the charges once you borrow the amount from us. Once you know the charges, it becomes easier to apply for the loan –
| Charges | Details about the Charges |
| Processing Fee | 1% - 5% of loan amount |
| Conversion Fee | 1 - 5% of the amount |
| Interest Rate | 12% - 36% per annum |
| Foreclosure | 5% of the amount [Nil when prepaid on or after your] |
| Mandate Return Fee | 500/- [inclusive of GST] |
When you apply for long term loan with us, you experience complete transparency. We process applications digitally – reducing paperwork and time. Our interest rates start from 12% annually with flexible tenures of up to 36 months. You receive dedicated support throughout your loan journey. We believe in building long-term relationships through fair lending practices.
There are certain factors that are evaluated by the lender before approving your long-term personal loan. Here are the major factors: -
Credit Score
A good credit score improves your loan approval chances and helps you get a loan at low interest rates. Whereas a lower credit score can lead to loan rejection or loans at high interest rates.
Monthly Income
We require a minimum monthly income of ₹20,000 for salaried individuals. Moreover, the applicant shall have a consistent income so that long-term EMIs become manageable.
Employment History
Lenders are very particular about your work history. If you have stable employment with a single employer, then it develops trust for lenders. On the other hand, frequent job changes can raise concerns about repayment capacity.
Age and Loan Tenure
Younger applicants are considered less risky, so they get longer tenures. Whereas older applicants face restrictions based on their retirement age.
Existing Liabilities
If you have too many ongoing loans, then the lender may hesitate to offer you a loan. Hence, you shall pay off your existing liabilities before you apply for a loan.
Here are some tips to help you manage long-term loans efficiently: -
Plan Your EMIs in Advance
Align your EMI payment with your monthly income. This will ensure that you don’t miss any payments and there is no financial strain.
Never Miss a Payment
Always make EMI Payment by the due date. If you fail to do so then you will have to pay late penalties. It will also have a negative impact on your credit score.
Set up Auto-Debit
You can connect with your bank and initiate an auto-debit facility for your EMI payments. This will automate your EMI and reduce the risk of default.
Maintain a Budget
Start tracking your monthly income, expenses and loan obligations very carefully. A clear budget will help you control spending and manage repayments efficiently.
Make Partial Repayments
If you have received any extra funds in the form of a bonus or incentive, then use it to make a partial prepayment of the loan. This will reduce the principal amount and lower your overall interest burden.
Create an Emergency Fund
Create an emergency fund to deal with unexpected expenses. This will ensure that you don’t miss EMI payments during emergencies.
There are certain common mistakes that borrowers make while taking a long-term personal loan. This increases their financial burden. By avoiding these mistakes, they can save money and manage repayment efficiently.
Borrowing Without Assessing Financial Need
One of the major mistakes is borrowing more than your requirement. A higher loan amount may seem very good, but it increases EMI and overall interest burden. Hence, assess your requirements before borrowing a loan.
Ignoring Interest Rates
Many times, borrowers are just concerned about long tenure and loan approval. They don’t check the interest rate. You shall never ignore interest rates, as they determine the overall borrowing cost.
Ignoring Interest Rates
Additional charges like late payment fees, penalties or foreclosure charges increase your borrowing cost. Hence, you shall always read the terms of the loan carefully.
Choosing Too Long Tenure
You are getting a long tenure, but it doesn’t mean you have to select the longest tenure. This longer tenure feels safe, but it can increase your loan interest. Hence, opt for an appropriate tenure as per your EMI affordability.
Ignoring Credit Health
Many borrowers just assume that a long-term loan is just a matter of regular repayments. But you shall not forget that each of your EMI repayments gets recorded on your credit report. This shapes your credit score, which affects your future loan application. Hence, never skip an EMI.
Long-term loans at lendingplate offer repayment tenures between 3 to 15 months. The tenure depends on factors like loan amount and repayment capacity. Higher loan amounts typically come with longer repayment options. Your monthly income and existing obligations influence the tenure selection.
Long term loans work best for substantial financial requirements needing structured repayment over time. Small requirements often get resolved within 3-15 months. The processing fees and interest charges on long term loans may not justify small borrowings. We recommend evaluating your requirement size and repayment timeline before choosing the loan type.
Your monthly income plays a key role in loan approval. We require a minimum monthly income of ₹20,000 for salaried individuals. Your income stability matters more than just meeting minimum requirements. We review your income patterns over recent months through bank statements.
Changing repayment tenure is not possible with us at lendingplate.
Credit scores directly influence your loan interest rates. Higher scores qualify for our best interest rates – starting at 12% annually. Regular credit repayments help maintain good scores. Missed payments negatively impact scores and result in higher future borrowing costs.
We offer unsecured long term loans without any collateral requirement. Your income proof and credit score serve as primary evaluation criteria. Some loan purposes might need additional documentation but no asset pledging.
We clearly communicate all applicable charges before processing prepayment requests. So, you can find out all the details after a consultation with our team.
Making timely EMI payments helps manage interest costs. Regularly review the prepayment options to optimise interest costs over time.
Long-term loans are best suited for those who need a higher loan amount and want smaller EMIs for an extended period. They are useful for expenses like home renovation, education or business expansion.
Long-term personal loans don’t have any direct tax benefit. But if the loan is used for specific purposes like home renovation, business expansion or education, then you can claim tax deduction under the applicable section.
Long-term loans at lendingplate are offered at fixed interest rates. These rates can range from 12% to 36%. The EMI remains consistent throughout the loan tenure.
Select the loan details you want to know
Select the loan details you want to know
Planning your perfect wedding shouldn't be limited by money worries. Book the perfect venue, hire top photographers and order those gorgeous outfits today. A marriage loan covers everything from venue bookings to catering services. Our marriage loans bring you flexible repayment options and fast approvals. Start planning your special celebrations with the support of instant financing.
Want to explore new places, but your savings are falling short? A travel loan brings your dream holiday closer, letting you book flights and hotels right away. Pay in simple monthly instalments that match your salary. No need to touch your savings or miss those limited-time travel deals. Create wonderful memories now with our fast-track travel loans.
Multiple debts causing stress? Say goodbye to financial stress as you work steadily to become debt-free with simplified money handling. Stop juggling multiple payments and high interest rates. Get one loan to clear all your debts with lower monthly payments. Track your progress easily as you move steadily toward becoming debt-free with simplified money management.
Make your living space better without emptying your savings account. Fix that leaky roof or build the kitchen you've always wanted. Get competitive interest rates and flexible repayment options. Quick approvals mean you can start work fast. Smart interest rates and easy EMIs help you create better living spaces with peace of mind.
Getting urgent medical care shouldn't depend on your bank balance. Medical emergency loans give you quick access to funds when health issues strike. We care about your health with instant medical loans. Get started with minimal paperwork and receive money in your account within hours. Easy repayment terms let you concentrate on recovery while managing your finances sensibly.
Unifinz Capital India Limited is a Non Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI). lendingplate is the brand name under which the company conducts its lending operations and specialises in meeting customer’s instant financial needs.
RBI CMS
RBI Sachet
