Loan-Vaarious Types of Loan-Bank Loan, Private Loan

TYPES OF LOAN:

There are several types of loans available to match people’s specific need and requirement. The following are some of the major category of loans types generally available. Under the major category several sub categorized loans are also available such as Cash loan, Pay day loan, Emergency loan etc., Though the basic principle of grant of loans to the public is quite common in many small and developed countries, the procedures, type of loans, rules governing its sanction etc., varies from one country to other according to their financial conditions and needs.

1. Personal loan

2. Housing loan

3. Automobile loan/Car loan

4. Student loan/Education loan

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