Personal Finance Credit | Online Personal Finance

Despite the global slowdown, Indian economy is booming and one of the main reasons is that nowadays loans are easily available and the rate of interests at which they are available in the market. Banks in the country are offering loan amounts for and against collateral and in some cases even ‘not’. Even government is encouraging people to take loans by awarding the benefits like tax concessions, such as in case of housing loans.

In accordance with the ever-changing needs of the customers, public and private sector banks are coming with more options and range of loans, however, there are some popular loan products that are available in the market today and include:

Personal Loans

Personal loan are the loans that help people in meeting requirements relating to their personal life and others. These loans help you to meet the immediate requirements without much of a hassle. Standard Chartered Personal Loan product is an example where the customers can get exciting schemes, easy repayment options and competitive interest rates.

Home Loans To turn the dream of owning a home into reality, one can apply for home loans. Now-a-days, getting a home loan has become much easier and everyone can fulfil his/her cherished dream.

Auto Loans

With a number of auto loans at the doorstep of the customers, one can now think of buying his/her dream car.

Education Loans

Education is the essence of life and now with banks providing loans for the same, everyone can think of pursuing higher education in his or her desired institution even in foreign lands. To ensure that no deserving student is denied of this moral right in form of education due to non-availability of funds, government is also promoting education loans at a larger scale.

Business Loans

A number of banks in the country are providing loans to cater to business requirements. Banks have also rolled out a number of products and services with a view to cater to SSI (small-scale industries) and Small Business Borrowers.

Marriage Loans

One can even arrange loans marriage expenses as it is one of the most important events in a person’s life. Banks provide these loans to make all the arrangements perfect and match the occasion.

Loans against home

Loan against home is provided by the banks against the mortgage of home. The amount of loan is given as a certain percentage of the market value of the home. Loans against shares

Loan against shares come in the form of a loan against equity (shares & debentures) and should be applied for only when one is expecting a certain sum of money after a few months.

Loans against auto

Loan against auto is offered as an overdraft against car. Under this loan, the rate of interest is lower when compared to the interest in case of personal loans.

Last but not the least, there are times when people have to face situations when they have to deal with need of money for fulfilling their personal needs and desires and for all these needs, one should turn to personal loans to get money to fulfil those needs. ICICI, HDFC, SBI, Canara Bank and Standard Chartered are the banks which have launched personal loans with a number of attractive schemes. Among them, is a Standard Chartered personal loan product which comes with a wide range of benefits with easy repayment schemes.

Addi is an business writer for paisawaisa.Know more on Bank loans.

Article Source:http://www.articlesbase.com/personal-finance-articles/loans-for-all-types-of-needs-988759.html

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This entry was posted on Thursday, June 25th, 2009 at 4:01 pm and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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