LOAN: TYPES OF PERSONAL LOAN

Personal Loan are the loans that are given for personal use. They are usually secured loans as the commodity purchased using the loan act as a collateral.

7 Tips to Avail a Personal Loan at a Lower Interest Rate - Oneindia News

Types of Personal Loan

Motor Loan– A secured loan granted for the purpose of purchasing a vehicle like car, motor cycle is called a motor loan.

Gold Loan– A secured loan granted for the purpose of purchasing Gold is called a gold loan.

Education Loan– A loan granted for educational purpose is called Education Loan. It can be either Secured or Insecure depending upon the educational Institution for which the loan is granted.

What Are The Challenges With Traditional Education Loans? - EarlySalary

Home Loan– A loan granted for house is called a Home loan.

Types of Home Loan

1.Basic Home Loan

2.Home Construction Loan

3.Home Extension/ Improvement Loan

4.Home Loan Balance Transfer

Tips to get another home loan if you already have one - News Chant

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