Loans
Personal Loan :
A personal loan is a type of unsecured loan and helps you meet your current financial needs. You don’t usually need to pledge any security or collateral while availing a personal loan and your lender provides you with the flexibility to use the funds as per your need.
Vehicle Loan :
An auto loan is a loan that allows you to buy a desired four wheeler, and pay the vehicle off in equated monthly instalments for a set tenure instead of having to pay the full price upfront. The terms of an auto loan depend on various factors, including your income and credit history. Vehicle loan can be availed for buying a new car as well as an old car. Top option is also available for vehicle loan if you require additional liquidity on the same car after several EMIs.
Housing Loan :
Buying a house is one of the biggest dreams come true for most people and an extravagant affair altogether. A home loan can be opted to buy a new house/flat or a plot of land where you construct the house, and even for renovation, extension, and repairs to an existing house.
Business Loan :
A business loan is an unsecured line of credit that can be used to meet the urgent needs of a growing business. Business loans can help you grow your existing business, increase production, take your business to next level, or buy new machines. Fast cash transfers with business finance allow you to make the purchases and payments you need to keep your business running smoothly on time. This loan is higher in terms of rate of interest but provides easy liquidity with very minimum documents and time.
Working Capital Finance :
Working capital loans are often used to fund everyday business expenses like payroll, rent and operational costs and manage cash flow gaps during a business’s slow season and even when company’s working capital cycle is long or odd. Working capital finance is low cost finance is a low cost finance as compared to Business loans but it undergoes due diligence of the business and property to be offered as collateral in availing that working capital loan. Working capital finance include Fund Based as well non fund based instruments offered by all banks. Few instruments of working capital finance are as under:
-Cash Credit
-Overdraft
-Letter of Credit
-Stand By Letter of Credit
-Bank Guarantee
-Working Capital Demand Loan
-Drop Line Overdraft
-Packaging Credit
-Vendor Finance or Purchase Bills Discounting
-Receivables Finance or Sales Bills Discounting
Construction Finance :
Construction Finance loan is designed to meet this requirement of real estate developers across the life cycle of their proposed or ongoing construction projects against the project sales receivables. Construction financing is different from a regular home loan. For regular financing, a person receives a lump sum loan at the date of settlement. Whereas, in construction financing, a person receives progress payments from financial institutions at various stages of construction.
Loan Against Property (LAP) :
A Loan against Property is a secured loan availed against a commercial or residential property kept as collateral with the lender. As the funds come with no end usage restriction, borrowers can utilise the funds for various purposes such as business expansion, wedding, child’s education, etc. It is a mortgage loan offered to individuals/firms/companies against their existing property.
Machinery Loan :
A machinery loan is a type of loan taken for the purpose of financing the purchase of new or second hand machinery or equipment for a business by placing that machine as a collateral. It helps you when you want to buy big machineries for your company and you are not having sufficient funds to buy it. You can opt this loan and pay in easy instalments.
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