A personal loan is a fixed amount of money borrowed at a fixed rate and repaid over a fixed amount of time.
Personal loans can either be secured or unsecured. Here are some key differences between the two types:
A house loan or home loan simply means a sum of money borrowed from a financial institution or bank to purchase a house. Home loans consist of an adjustable or fixed interest rate and payment terms.
The documents required for a home loan application are more or less the same for various banks, Housing Finance Companies (HFCs) and other lending institutions.
Business loans are unsecured financial assistance provided by banks and NBFCs in India. The primary aim of these is to support the urgent needs of your growing business. Most financial institutions offer term loans and flexi loans to cater to the business needs of a company. Business loans are also called commercial loans. All types of businesses such as a sole proprietorship, privately held company, partnership firms, self-employed individuals and retailers can avail these loans.
A car loan is secured against the vehicle you intend to purchase, which means the vehicle serves as collateral for the loan. If you default on your repayments, the lender can seize the auto. The loan is paid off in fixed installments throughout the loan. Much like a mortgage, the lender retains ownership over the asset until you make the final payment.
Gold loan (also called loan against gold) is a secured loan taken by the borrower from a lender by pledging their gold articles (within a range of 18-24 carats) as collateral. The loan amount provided is a certain percentage of the gold, typically upto 80%, based on the current market value and quality of gold.
Loan against property is given out on the property that you own currently. If you are looking for money to invest in the business and need funds, then you can opt for LAP. The processing for such loans is faster and also the burden of the loan is not too excruciating. The loan can also be repaid quickly as you will be paying only the interest on the principal amount and not the principle money itself.
Balaji Transport Company are one of the leading packers and movers company of Delhi. We offers our client an variety of service which includes from packing of goods,
Plot No. E-117, KH. No-29/16 & 17, Rana House Bijwasaan Extin. Najafgarh Road, New Delhi-110077
