Mr Broker

+91-8146896786

List your property on our website today. Contact us now!

Loan
Share it with friends and get benefits

Loan

In finance, a loan is the lending of money from one individual, organization or entity to another individual, organization or entity. A loan is a debt provided by an entity (organization or individual) to another entity at an interest rate, and evidenced by a promissory note which specifies, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower.

In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time.

The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent.

Acting as a provider of loans is one of the principal tasks for financial institutions such as banks and credit card companies. For other institutions, issuing of debt contracts such as bonds is a typical source of funding.null

Loan proceeds can be used for a variety of purposes, from funding a new business, to buying your finance an engagement ring. But with all the different types of loans out there, which type is best? In this article, we’ll take you through a list of some more popular types of loans, as well as their characteristics and their usefulness in meeting consumers’ financial needs.

Type of LOAN

1. HOME
2. AGAINST PROPERTY
3. PERSONAL
4. SMALL BUSINESS
5. EDUCATION
6. OVER DRAFTS LIMIT
7. AUTOMOBILE

 

Send us Your Detail
Regarding

Your Name (required)

Your Email (required)

Subject

Your Message

  • Yum