How many type loan available
Loan has become an integral part of people’s need in every way people need loan and loan is needed for different work, in the same way loan department has been divided differently according to loan taken. If we have written them according to some points, then understand
Education loan – Right now there are many people in India who have the ability to study and want to become a few, want to do something for the country but in such a situation there is a problem of money, now education takes a lot of money even if you Do any kind of course, now even if you want to study, then the government has kept an option for you that you can take an education loan from the bank and you can recover this money after the completion of your studies, the interest rate in this loan is very less
Personal Loan – This is a general loan, it is easily available in any bank, for this you have to go to the bank with some documents, in this you need your salary slip and photocopy of the passbook, then after that you can easily Loan is given which you can repay with interest amount given within 1 year to 5 years.
Gold Loan – If your money is of good quality gold, then you can take it as a loan by mortgaging money in the bank. With this one can deposit money for two years
Property Loan- If you need a loan in a higher amount, then property loan can be a good option for you, in this you get a big amount with very little interest, in this you can mortgage land or any kind of expensive property. You can get a loan, even in this the interest rate is very low.
Home Loan – If you want, you can take a home loan, in this you get a large amount, it will be 10 to 20 years at the time of paying the money, as well as the interest rate is very low because till the money is not full, the house remains in the name of the bank. When the loan is fully paid, the ownership of the house is given to the owner.
Corporate loan – This loan is available to big companies like Ambani, Nirav Modi and people like Nirav Modi and loan amount is also big and more than 20 years time is given to get money, most of the loan fraud is in this. This happens because the recovery agent is bought, then there are many dramas, in which the interest rate is high.
Vehicle Loan – In today’s time this loan has become common and almost all the banks give this loan, it can be 6 months to 10 years at the time of getting the loan, now everyone needs loan from small car to big car. And the loan system has been made mandatory in big vehicles.