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Loans
A loan is a form of debt incurred by an individual or other entity. The lender—usually a corporation, financial institution, or government—advances a sum of money to the borrower. In return, the borrower agrees to a certain set of terms including any finance charges, interest, repayment date, and other conditions.
Types Of Loans
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Personal Loan.
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Business Loan.
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Home Loan.
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Gold Loan.
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Rental Deposit Loan.
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Loan Against Property.
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Two & Three Wheeler Loan.
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Personal Loan for Self-employed Individuals.
What Is A Loan ?
What's A Bank Loan ?
This is a loan which uses an asset as collateral. A good example is a mortgage loan. For this type of large loan, the Bank secures the house as collateral. If people, defer on their loan, the bank is able to legally possess the home to pay off the outstanding debt.
Banks lend money to companies to encourage them to use business checking and savings accounts, financial advisory services, tax preparation services and even investment banking services in a different branch of the bank.
Equated Monthly Instalment (EMI)
An equated monthly instalment (EMI) is a set monthly payment provided by a borrower to a creditor on a set day, each month. EMIs apply to both interest and principal each month, and the loan is paid off in full over some years.
Loan Procedure
To be able to begin with a loan process, a series of documents will be required ;
The three stages of every loan are the application, underwriting and closing. In the application phase, a loan officer will work with you directly to gather all information needed to prequalify your loan request. First, you will discuss your plan for the loan proceeds.