Home Discover Journals Learn about the Different Types of Loans

Learn about the Different Types of Loans

By Finserv MARKETS - Feb 5,2019
Views Icon176 Views 0 0 Comments

Different Types of Loans

As clichéd as it may sound, a new year calls for new resolutions. This 2019, resolve to make safe investments that give you good returns. Make sure to plan your daily expenses including your long-term and short-term expenses as well.

To sort out your finances, you may require certain loans to help you. Here are the different types of loans that you could apply for to stabilize your finances:

Different Types of Loans:

  • Business Loans
  • Personal Loans
  • Home Loans
  • Small Cash Loans
  • Instant Education Loans
  • Loan against Property

Business Loans

If you are someone who runs a business or is self-employed, the new year maybe a good time to expand and explore new ideas and opportunities. To reach these business goals, you may need financial support. A business loan from Finserv MARKETS can give you the required support to help you reach your objectives. There are many types of business loans available in the market today. These loans come with variety of repayment options and interest rates. Applying for a loan online also seems like a convenient, easy and hassle-free way to go.

Personal Loans

Personal loan provides you with the financial backing you require, irrespective of your need. Finserv MARKETS offers personal loans that promise a hassle-free online application process with swift disbursal of money. These personal loans can be taken for a number of reasons like marriage, holiday, renovating your house, buying high end electronics and other personal needs.

Home Loans

A home loan is a type of secured loan taken by people from a banking institute or other financial institution to purchase a house. The interest rates offered are either fixed or floating. The loan amount is paid in instalments on a monthly basis over a specified tenure. The property purchased on a loan can either be personal or commercial property. To know more about home loans, visit our blog.

Small Cash Loans

Small Cash Loans come in handy during financial emergencies. Unexpected costs can really throw your finances off track. If you do not have an immediate cash support available, you can get small cash loans within 24 hours. With small cash loans, you will be allowed to borrow up to INR 50,000 with the money credited to your bank account on the same day!

Instant Education Loans

If you wish to get yourself or your child enrolled in any professional or vocational courses then you could apply for an education loan. Just like an instant cash loan, you could get a small educational loan of up to INR 50,000.

Loan against Property

A loan against property or a mortgage loan is a secured loan that is taken against a property you own. While you can apply for a loan against property for multiple reasons including existing debt settlement, business growth, medical emergencies etc., you also need to ensure that you repay your loan in the stipulated time. The tenure for this type of loan can be extended up to 15 years. So, you could repay the same comfortably without any stress. Other features of Loan against Property includes quick online process, minimum documents, part payment facility, balance transfer facility and online account management.

You could avail of any of these loans whenever you need financial help, but it’s very important to understand the conditions of your lender before you zero in on any loan. Each loan comes with different repayment options, tenures and terms, and conditions. Plus, your lender will require information like your bank statement, your personal and professional documents and more. If the procedure appears complicated or you would like to consult an expert to know if there are any hidden clauses, it is advisable to do so. After all, it’s always better to be safe than sorry.

With Finserv MARKETS, you can avail a Personal Loan online in a quick, easy and hassle-free way. What’s more? The entire process is online and can be processed right from the comfort of your home! Also, you get the freedom of choosing your loan repayment tenure that ranges between 12 – 60 months. What more could one ask for? Go ahead and apply for a personal loan from Finserv MARKETS, today!

“Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!”

Comments

Connect with Us
Connect with Us

Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522