List of Different Types of Bank Loans in India In 2022 By All Banks – Loans can be used for various things in today’s world. It can be used to finance start-ups to buy equipment for your newly purchased home. Let’s talk about the different types of loans available in the market and their specific characteristics that make these loans useful to customers.
A loan is essentially the amount borrowed for a certain period of time. The borrowed amount needs to be repaid with a predetermined amount of interest calculated on the principal. There are different types of loans in India that can be divided into secured and unsecured loans.
List of Different Types of Bank Loans in India 2022 By All Banks
- Personal Loans
- Credit Card Loans
- Home Loans
- Car Loans
- Two-Wheeler Loans
- Small Business Loans
- Payday Loans
- Cash Advances – These loans are offered by credit card issuers and allow credit card users to withdraw cash from an ATM machine using the credit card.
- Home Renovation Loan
- Agriculture Loan
- Gold loan
- Loan Against Credit Card
- Education Loan
- Consumer Durable Loan
- Loan Against the Insurance Schemes
- Loan Against Fixed Deposits
- Loan Against Mutual Funds and Shares
List of The required documents for personal loans :
- KYC documents that include Aadhar card, driving license, voting card etc.
- Salary slips of the last two months and income proof for self-employed professionals.
- Savings/current account statements.
- A copy of the Income Tax statement.
- Form 16.
- RBI Registered Loan App List 2022, RBI Registered Loan Company
Types of Loans : Based on the Security Provided
|Secured Loan||Unsecured Loan|
Types Of Bank Loans Based on the Purpose
- Education Loan
- Personal Loan
- Vehicle Loan
- Home Loan
List Of Important Factors Lenders Look at to Approve your Application For Loan
- Credit Score
- Income and Employment History
- Debt-to-Income Ratio
- Down Payment
- Previous Bank Records