#1
24th February 2016, 08:54 AM
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Different Kind Of Loans
I am 12th Commerce student and got an final project assignment to make presentation on loans looking for the details related to this. Can you please provide me list of different types of loans available in India along with the details of that loan so that I can place list in my project report?
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#2
24th February 2016, 08:55 AM
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Re: Different Kind Of Loans
A loan is the lending of money from one individual, organization or entity to another individual, organization or entity. A loan is a debt provided by an entity (organization or individual) to another entity at an interest rate. Different type of loans available. 1 Home Loan-Home loan is the loan against buying property. Again there are sub-categories of home loans which are as below. Home loan for residents Loans for repairs and extension Land purchase loan Top-up loans Loan for Earnest Money Deposits (EMD) Reverse Mortgage Loans Loan against property 2 Personal Loan It is the loan granted to fulfill your expenses which ranges from buying some expensive electronic gadgets to booking your air tickets. Here we may find two types of loans Secured Loans-Where you provide some collateral as a safety against loans. Unsecured Loans-In such type of loans borrower collateral not required. 3 Car Loan or Vehicle Loan This is usually used to meet your financial requirement when one is planning to have his dream car or bike. 4 Education Loan This is actually a handy tool for parents who not planned well for their kid’s higher education. 5 Gold Loan This was one of the easiest and fastest way of loan when gold rate was at it’s peak. 6 Loan against Insurance Policies You can use your insurance investment as either collateral or take loan from insurer itself if that policy is eligible for loan. 7 Loan against Bank FDs This is one form of loan where your collateral is your bank 8 Loan from PPF or EPF You can avail loan from PPF when one satisfies certain conditions. 9 Loan against Shares or Mutual Funds Few lenders offer loan against your investment value of shares or mutual funds. |
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