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Personal Loan

Personal Loan is an unsecured credit provided by the banks based on the criteria like employment history, repayment capacity, income level, profession and credit history. However, the interest rates are higher than any other loan considering the amount of risk involved in lending the amount.

It is also known as a consumer loan for multi-purpose loan, which can be used to meet any of immediate needs such as:

  • Medical Emergency
  • Wedding
  • Relocation
  • Travel
  • Home renovation
  • Children Education
  • Buying Gadgets
personal Loan
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Business Loan

Business Loan

It is specifically intended for business purpose and are unsecured financial assistance provided by banks and NBFC. The primary aim of these loan is to support the urgent needs of growing business and as with all these loans, it involves creation of a debt, which will be repaid with added interest.

Types of Business Loan

  • Working capital loan
  • Term loan (Short and Long-term)
  • Letter of credit
  • Bill/Invoice Discounting
  • Overdraft facility
  • Equipment Finance or Machinery Loan
  • Loans under Government schemes
  • POS loans or Merchant cash advance

Home Loan

A home loan is a secured loan taken from a bank or financial institution for the purpose of buying a residential property such as ready-to-move in house or apartment or one that is under construction. These loans are having varying interest rates, which are often linked to the credit score of the borrower.

This type of loan usually requires the mortgage of new house with the bank or financial institution andhave to be repaid as equated monthly instalments.

Types of Home Loan

  • Land Purchase
  • Home Purchase
  • Construction of a House
  • House Expansion or Extension loans
  • Home Conversion
  • Home Improvement
  • Balance Transfer
  • NRI Home Loans
  • Bridged Loans
  • Stamp Duty Loans
Home Loan
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Loan Against Property (LAP)

Loan Against Property (LAP)

A loan against property(LAP) is a secured loan that is sanctioned against the asset pledged as collateral. This asset can either be an owned land, a house, or any other commercial premises. The asset remains as collateral with the lender until the entire loan against property amount is repaid.

It can be availed by both salaried and self-employed persons for their Personal and Business Needs (other than for speculative purposes) like marriage, medical expenses and child’s education etc.

It is better than availing personal loan and the evaluation and documentation process is quick and simple.