Correct Answer: No maturity period

Solution : The correct answer is (d). No maturity period

Term loans have a specified maturity period, which is the length of time within which the loan is expected to be repaid in full. The maturity period can range from a few months to several years, depending on the terms of the loan agreement.

In summary, a term loan typically has a fixed interest rate, fixed repayment schedule, and may require collateral security. The incorrect option is d) No maturity period because term loans do have a specific maturity period associated with them.