Different Types of Personal Loans
- Unsecured: These loans don’t require collateral and are typically used for different personal expenses.
- Medical: These personal loans are to cover healthcare expenses, including surgeries, treatments, operations and other medical costs Etc.
- Secured: These loans require collateral, such as a vehicle or savings account, offering with low interest rates due to low lender risk.
- Travel: Travel loans finance vacation expenses during holidays, allowing borrowers can pay through EMI options
- Fixed-Rate: This type of loans have a constant interest rate throughout the loan term, with EMI options.
- Debt Consolidation: These types of loans combine multiple debts into a single loan with one monthly payment, with maximum low interest rate, which will help customer to track his loan and close other high interest loans.
- Consumer Durable: It is used to finance the purchase of household items like appliances and electronics, often with No cost EMI, Low Down Payment and Zero Collateral
- Variable-Rate: This loans have interest rates that changes with market conditions, which can result in changing your monthly EMI payments.
- Personal Lines of Credit: Personal lines of credit offer flexible borrowing, allowing users to draw funds as needed up to a set limit, with interest paid only on the borrowed amount.
- Salary Advance Loans: These loans will provide short-term funds against a portion of your upcoming salary, typically used for emergency expenses. You can clear with EMI on monthly basis later to close this loan.
- Wedding Loans: This loans are personal loans tailored to cover wedding expenses from 50K to max 40Lakhs, such as venue costs, catering, and other wedding expenses. Lumpsum amount that can be repaid in monthly EMI’s.
- Education Loans: Money borrowed to study. These loans finance educational expenses, which includes tuition, books, and living costs, often with deferred repayment options until after graduation you can repay.
- Personal Loan for Holiday: Holiday loans are personal loans used to cover holiday-related expenses to spread the cost over your holiday period.
- Home Improvement Loans : These loans finance renovation or repair projects for your home, often with fixed rates and terms.
- Festive Loans: These loans are short-term personal loans which will cover expenses during festivals, such as gifts, decorations, and celebrations during festivals or any functions.
- Top-Up Personal Loans: Top-up personal loans are additional funds provided on your existing personal loan, this we be provided if your credit score is good.
- Pensioner Personal Loans: Pensioner personal loans are only for retired individuals receiving a pension, providing them with additional funds based on their pension income.
