In finance, a loan is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower.
Personal Loan:
A personal loan is a loan made to an individual usually without collateral. That is to say the loan is backed by the individual's promise to pay and credit score rather than by a pledged asset.
Personal Bank Loans are the credits which a bank offers to its customer to meet his instant personal requirements ranging from home renovation to purchasing of new laptop, a getaway with family or for reimbursing the credit card liabilities, for buying a new car or for child's education, etc. Personal loan simplifies the cash flow of the customer besides handling its immediate needs.
Home Loans:
Home Loan is a Secured Loan offered against the security of a house/property which is funded by the bank’s loan, the property could be a personal property or a commercial one. The Housing Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker a conditional ownership over the property i.e. if the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property.
Home Loan has helped in changing every Indian's dream into reality. However, the every increasing
property rates and escalating rates of interest sometimes act as an obstacle. Therefore, before opting for a home loan it is advisable to check every prospect of the product.
Bank Loans against Property
Property Loan or Loan against property is a kind of loan which is allowed by the
bank on the condition of keeping the customer's current assets as a security
with them. These loans are very useful when other resources of financing get
exhausted.
Business Loans
Before starting a business, the entrepreneur should be mentally and financially prepared to encounter the fiscal setbacks during the process.
The process of getting business loan in India is changing rapidly. What earlier used to be based on the relationship between the entrepreneur and his bank, is now professionalized. There are professional investment advisories (like us) who help entrepreneurs by building a strong investment pitch document, preparing a detailed financial forecast and model, and approaching banks to receive business loan with best possible interest rate and other terms and conditions. Unlike other Investment Advisers who are only interested in winning mandates for multi-million dollar debt syndication, firms like ours look at helping to
arrange for smaller loan amounts.
Business loan is based on the "Proposal" document which is basically the Project report for setting the business. Banks do provide loans against securities like your asset/deposits. There are no govt registered brokers as such, however purchasing of running business is possible. Such units are advertised in business
newspapers/magazines. In most cases, you get into a partnership for establishing the business.
To bail the companies out from the fiscal crunch, several banks in India offers business Loans both for meeting urgent official growth and expenses. Other details of Business Loans offered by Banks in India are:
Business Loans
Car Loans
Every individual want to own a car. Hence, the need for car loans emerges at some point or the other. While selecting a car loan it is always wise to scrutinize the various options accessible in the market besides analyzing its fiscal suitability.
Education Loans
Education Loans offered by various banks in India provide much required assistance to fund your child's education when all other resources of finance get exhausted. Education Loans are offered by almost every Indian bank thus providing ample opportunity to students to undergo higher education both in India and abroad.