Personal Loan

Types of Personal Loans

What are the different types of Personal Loan in India?

Personal loans can be used for a wide variety of purposes. Check out the following types of personal loans:

  • Wedding loan
    Indian weddings can turn out to be quite expensive. Instead of draining all your savings, opt for a marriage loan. This personal loan helps you fund all your wedding related expenses with ease.
  • Home Renovation loan
    Give your house a new look with a home renovation loan. This personal loan helps you handle the costs of maintenance works, refurnishing, redecoration, and more.
  • Travel loan
    You can fund expensive family trips and vacations abroad with a personal loan for travel.
  • Medical loan
    In case of an urgent medical expenditure, if you do not have insurance, apply for a medical emergency loan. With instant approval and low personal loan interest rates, this loan can be of great help.
  • Debt consolidation loan
    You can take a personal loan to consolidate all your existing debts into a single one and manage your instalment payments in a better way. Use a personal loan EMI calculator to calculate and compare your repayments.
  • Higher education loan
    A personal loan for higher education helps you finance other aspects of studying abroad like accommodation, travel, living expenses as well as tuition fees.
  • Small personal loan
    The urgent need of money can occur at any point of time. Be it in a business or for your child’s education, if you need some additional funds you can choose a small personal loan.

Additional Reads:

What are the documents required for Personal Loan?
How do lenders decide Personal Loan eligibility?