Banks in India with the way of development have become easy to apply in
loan market. The following loans are given by almost all the banks in
the country:
- Personal Loan
- Car Loan or Auto Loan
- Loan against Shares
- Home Loan
- Education Loan or Student Loan
In Personal Loan, one can get a sanctioned loan amount between Rs
25,000 to 10,00,000 depending upon the profile of person applying for
the loan. SBI, ICICI, HDFC, HSBC are some of the leading banks which
deals in Personal Loan.
Almost all the banks have jumped into the market of car loan which is
also sometimes termed as auto loan. It is one of the fast moving
financial product of banks. Car loan / auto loan are sanctioned to the
extent of 85% upon the ex-showroom price of the car with some simple
paper works and a small amount of processing fee.
Loan against shares is very easy to get because liquid guarantee is
involved in it.
Home loan is the latest craze in the banking sector with the
development of the infrastructure. Now people are moving to township
outside the city. More number of townships are coming up to meet the
demand of 'house for all'. The RBI has also liberalised the interest
rates of home loan inorder to match the repayment capability of even
middle class people. Almost all banks are dealing in home loan. Again
SBI, ICICI, HDFC, HSBC are leading.
The educational loan, rather to be termed as student loan, is a good
banking product for the mass. Students with certain academic brilliance,
studying at recognised colleges/universities in India and abroad are
generally given education loan / student loan so as to meet the expenses
on tuition fee/ maintenance cost/books and other equipment.
