Types of Bank Loan in Marathi: As you know that people need loans to meet their various needs. They take this loan or loan from a bank or any financial institution. They want to return the loan amount along with interest to the bank. So today we are trying to tell you through the article Types of Bank Loans in India that how many types of loans are there?
According to the time period there are three types of loans.
- Short Term Loan – This type of loan is less than one year to repay.
- Medium Term Loan (Medium Term Loan) – These types of loans have a repayment period of 1 year to 3 years or 5 years.
- Long Term Loan – The repayment period of this type of loan is more than 5 years. What is net banking and how to use it In Types of Bank Loans in India, let’s learn about the types of loans offered by banks or financial institutions in India.
1) Personal Loan (Personal Loan information in Marathi)
Personal loan or unsecured loan means a loan taken for oneself. If we look at it, all loans are taken for self but personal loan is taken for one’s own work. This personal loan is for children’s education fees or to buy an expensive gift or to buy a household item. is taken Each bank has different interest rates for personal loans. At present, State Bank of India charges 12.50% to 16.60% per annum interest for personal loans. HDFC Bank charges around 10.99% to 20.75% interest rate every year. If you look at it like that, the interest of personal loan is higher than the interest of other loans. Bank does not have to provide any more documents in personal loan. You only need to pay one salary slip. You can get a personal loan for a period of 5 years.