Personal loan is a loan that does not require collateral or security and is offered with minimal documentation. You can use the funds from this loan for any legitimate financial need. Like any other loan, you must repay it accordance to the agreed terms with the bank.
A business loan is a financial offering that can be borrowed to meet your planned and unplanned business expenses. It is a kind of unsecured financing, and you can avail of one without providing any collateral.
A car loan is secured against the vehicle you intend to purchase, which means the vehicle serves as collateral for the loan. If you default on your repayments, the lender can seize the auto.
A home loan is a secured loan that is obtained to purchase a property by offering it as collateral. Home loans offer high-value funding at economical interest rates and for long tenors. They are repaid through EMIs. After repayment, the property's title is transferred back to the borrower.
Gold loan is a secured loan taken by the borrower from a lender by pledging their gold articles as collateral. The loan amount provided is a certain percentage of the gold, typically upto 80%, based on the current market value and quality of gold.