A personal loan is an amount of money you can borrow to use for a variety of purposes. The money you borrow must be repaid over time, typically with interest. Some lenders may also charge fees for personal loans.







Home Loan :-



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 property is mortgaged to the lender as a security till the repayment of the loan.







Car Loan :-



An car loan works much the same way as other types of loans. You take out a car loan through an institution, like a bank or the auto dealer where you're getting the car. That institution agrees to loan you money to buy the car, and you agree to pay back the amount you borrowed through monthly payments, plus interest.







Student Loan :-



A student loan is money you borrow from the federal government or a private lender to help pay for college costs, like tuition, supplies, books and living expenses. Federal student loans typically have lower interest rates and more flexible repayment options than private loans.







Interest Rate :-



An interest rate refers to the amount charged by a lender to a borrower for any form of debt. It is listed as a current liability and part of given, generally expressed as a percentage of the principal.







Loan Eligibility :-



When you apply for a home loan, your eligibility is primarily dependant on your income and repayment capacity. There are also some other factors that will determine your home loan eligibility: Your age, financial position, credit history, credit score, other financial liabilities etc.