Loan is an financial distribution to the required person at the rate of interest. Mostly Loans are provided by the banks, chit funds, small help groups and etc
Personal loan
Home loan
Car loan
Education loan
Mortgage loans
Gold loans
These type of loans are named on the purpose of they brought from the financial background.
In this type the person, who need loan for their personal needs that is he need the loan for to buy motor vechicle, car, build the house, purchase amenities of his home, his childern educational purpose and etc.., in this the rate of interest is more compare to the other loans.
the person who needs the loan for him to build a house, renovate his house or reconstruct the house., the interest rate of the home loans are depends upon the repo rate of the world banks, reserve banks.
This is also known as luxury loan, because of rich people only buy these kind of loans, otherwise the normal person didnt require these loans. Car loans are varied on purchase of new cars, second hand cars too...
most of the governments are providing educational loan for the youths in all over the country. People approaching the banks for educational purpose to seek at the time of joining the college level, it is available for both under graduate and post graduate courses, in post graduate is the more expense than the under graduate, the education loans interest are low compare to other loans, it is depends upon the country's to providing the educational loan.
All mortgage loans are provided in the demand of land registered papers, and security to get the loans in the name of their documents.
It is provided by the some of the banks, all private jewellery and finance companys are providing these kind of loans., manappuram finance, muthoot finance and HDFC banks providing loans and etc.,
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