What Are the Different Types of Personal Loans 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 work, 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 for 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.
What Are the Documents Required for Personal Loan?
How Do Lenders Decide Personal Loan Eligibility?