Types Of Bank Loans In India :
What are the types of loans –
Bank Se Loan Kaise Le
The help taken from a bank or a finance company for any personal work to expand the business, to do some important work to buy something, is called a loan or loan. In return, if the customer returns the full amount of the loan to the bank along with interest in the form of EMI, then friends, Sumit Duhan and today we are going to talk in this blog post about how many types of loans banks give in India, then let's go. begin |
There are three types of loans according to the time
1.) Short Term Loan: Its tenure is less than one year.
2.) Medium Term Loan: Its tenure ranges from one year to three years
3.) Long Term Loan: Its tenure is more than five years.
How many types of loans do banks give in India?
1.) Personal Loan
Personal loan means, loan taken for himself, although everyone takes loan for himself, but personal loan means taking loan for his personal work, such as paying school fees for children, to get someone treated. Whether to give an expensive gift to someone or to buy a household item, every bank has its own interest rate fold for personal loan, such as: SBI 12.50% to 16.60% for personal loan in today's method HDFC Bank charges 10.99% to 20.75% interest for a year on the same if it charges yearly interest. It is also important to know that the personal loan interest rate is higher than other loans, although banks do not ask for more documents while giving you a personal loan, they just see your earnings and give the loan to you. You can get Personal Loan for up to 5 years. The second is Gold Loan
2. ) Gold Loan
Gold Loan is a cash-taking process in exchange for keeping gold in the bank, you have to keep it in the locker of the gold bank, you get such loans in the value of the gold deposited, the bank gives you up to 80% of the value of gold. They give loans, gold loans are usually taken only in emergency, the interest rate taken on this loan is much lower than personal loan. As of today, SBI Bank is charging 11.15% year-long interest on Gold Loan, while HDFC Bank charges 10% year-long interest on Gold Loan. The third is Loan Against Securities
3.) Loan Against Securities
In this, the bank gives a loan by keeping your security paper. But the solution comes that what happens to the security paper, if you have already invested in demand share or any other, the same is your securities paper, in return of which the bank gives you a loan. 4 Loan is Property Loan
4.) Property Loan
Property Loan is the loan that the bank gives by keeping the documents of your property proud, you can get it for up to 15 years, usually 40 to 70% of the value of the property is loaned. The fifth loan is Home Loan
5.) Home Loan
The loan taken to buy a house is a home loan, you do not take a loan only for building a house, you can add a loan from the bank by adding the cost of building a house. The bank can give you 75% to 85% of your total cost. The tenure of home loan ranges from 5 years to 20 years. Sixth is Education Loan
6.) Education Loan
Education loan is given to only those students who will be able to fill it on time. After the completion of studies, students can pay this loan. As of today, SBI Bank Education Loan is charging 10.70% interest for loans above Rs.7.50 lakh and 9.95% for loans up to Rs.7.50 lakh. The seventh loan is Car Loan
7.) Car Loan
Bank letters keep on giving different types of offers to get a car. This loan is given for a time like all other loans.
So friends, today you know how many types of loans are given in Bank India, if you liked this post, then like it, share it with your friends, thank you from the heart for giving your valuable time.
