Today in this article we will know, how many types of loans are given in India. Loan type in India, How many types of loans are given in India.
About 10-12 types of loans are given in India, but the process of all loans and the process of giving loans of all banks is different. The interest rate and terms and conditions of all banks are also different. Apart from banks in India, there are also many finance services that give loans like banks.
But the rate of interest of these finance services is slightly higher than that of banks, loans are not available from these finance companies without keeping capital. If you want to take a loan from these finance services, then you will have to mortgage something as security, such as gold or property etc.
Types of loans in India
1. Personal Loan
2. Gold Loan
3. Property Loan
4. Home Loan
5. Education Loan
6. Vehicle Loan
7. Corporate Loan
8. Shares Loan
9. Project Loan
10. Business loan
11. Fixed Deposit Loan (FD Loan)
Almost all people need loans, but not all people are able to take bank loans, the reason for this may be people do not know the rules of the bank or make incomplete efforts to get the loan. Because getting a loan from the bank is not too difficult. Many people get loans very easily, because they follow the terms and conditions of the bank.
Today we will talk about various loans here, whose list is given above. Today we will talk about 11 types of loans here, which every loan applicant needs to know. Because many people ignore their essential needs thinking that they cannot get a loan, they can get a lot of necessary information from here.
1. Personal loans
You can take this loan to meet your personal needs like wedding expenses, travel, medical fees, to manage household expenses etc. But keep in mind.. The interest rate of the bank is high on this loan, take this loan in emergency.
2. Gold Loan
You can take this loan by pledging your gold, many people use this loan, because the interest rate in this loan is very low, so it is old to take this loan. Apart from banks, many finance companies also give loans against gold.
3. Property loans
You can take this loan by mortgaging your property, if you want to get the loan soon, then this loan will prove to be better for you. The interest rate of the bank is also low on this loan, so many people use this loan.
4. Home Loan
You can get this loan to build a house and buy a house, this loan is not easily available, but if you follow the terms and conditions of the bank, then it will be easy for you to get this loan. If you have any capital like property, gold, FD then you will also get this loan easily.
5. Education Loan
For studies, this loan is taken to manage the cost of studies, almost all the banks give this loan, but the student needs a guarantor to take this loan. The guarantor can be the father of the student or his relative.
6. Vehicle Loans
This loan is taken to buy a vehicle, almost all the banks give this loan. If you have any capital then you can get this loan easily, capital means .. like property, gold, FD etc.! Apart from the bank, this loan also provides many finance services.
7. Corporate loans
This loan is taken by big business people like Vijay Mallya, Ambani Brother, Tata Birla etc. This loan is available on the basis of companies, such as the company’s balance sheet, after seeing the company’s turnover, the bank gives them a loan and recovers the time.
8. Share Loan
This loan is also a type of loan, this loan is similar to a corporate loan. The bank also gives loans against the shares of certain companies. It is the bank that decides which shares the bank will give loans on or not. How much loan can be availed depends on the share price and repayment capacity of the loan.
9. Project Loan
This loan is also a type of loan, this loan is not easily available. Almost all banks in India provide this loan, but because no one knows much about it, people do not even think about this loan. This loan is available on your project.
10. Business Loan.
This loan is taken for furthering the business or for starting a new business. It is not easy to get this loan, but if you have property, gold or any FD then you will get this loan easily – read more
11. Fixed Deposit Loan (FD Loan )
This loan is available on the fixed deposit made by you, many people use this loan more, because this loan is easily available. The interest rate on this loan is very low. If you want to take this loan in emergency, then you can take it, because this loan is available soon.
