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1st April 2016, 11:05 AM
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Join Date: May 2012
Re: What Are The Different Types Of Loans

On your concern buddy I will get the information about the types of loan offer by the companies and bank to there customers so that you an go through it easily.

The 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 which specifies, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment.

Here are the types of loan

Student Loans
Student loans are offered to college students and their families to help cover the cost of higher education.

Mortgages
Mortgages are loans distributed by banks to allow consumers to buy homes

Auto Loans
Like mortgages, auto loans are tied to your property. They can help you afford a vehicle, but you risk losing the car if you miss payments

Personal Loans
Personal loans can be used for any personal expenses and don’t have a designated purpose.

Loans for Veterans
The Department of Veterans Affairs (VA) has lending programs available to veterans and their families

Small Business Loans
Small business loans are granted to entrepreneurs and aspiring entrepreneurs to help them start or expand a business

Payday Loans
Payday loans are short-term, high-interest loans designed to bridge the gap from one paycheck to the next

Borrowing from Retirement & Life Insurance

Those with retirement funds or life insurance plans may be eligible to borrow from their accounts.

Consolidated Loans
A consolidated loan is meant to simplify your finances. Simply put, a consolidate loan pays off all or several of your outstanding debts, particularly credit card debt.

Borrowing from Friends and Family
Borrowing money from friends and relatives is an informal type of loan. This isn’t always a good option, as it may strain a relationship.

Cash Advances
A cash advance is a short-term loan against your credit card. Instead of using the credit card to make a purchase or pay for a service


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