10 loan types you probably never heard of

by Finway FSC Empowering People Financially

The whole world is running on credits. Whether it’s a nation taking credit from another one, for rebuilding its infrastructure or a multinational company taking a huge finance from a country’s lead bank to get its branch running their with ease & profit, without the institution of loaning nothing of these would have been possible. For survival of global economy and advancement of globalisation loan is very essential. However, these are all examples of loan on a grand scale. On a more personal note, loans can be very handy and in some cases lifesaving to. Whether you are short of cash during a medical exigency or you need hard cash ahead of your bridal shopping, loans can get you out of any & every sticky financial situations. This is the very reason why these are called personal loans. These are unsecured because the lending platform or the lender does not ask for any collateral. You can also get unsecured business loans under this banner. But if you are looking for loan against property or home loan in Delhi or any other place then you will need more in-depth financial planning and also, you need to get out of the boundary of personal loan. You will then need the assistance of Finway, one of the best financial institutions in India.

Enough with the chitchat about the boundaries of personal loans. Let’s get back to the interesting part. As we were discussing that personal loans are best for your immediate cash requirement, we will now give you the names of some of the customized personals loans that are disbursed for specific personal affairs only. These are

1. Bridge loan – to clear the debts of bigger loans

2. Festival loan – to compensate your expenses during festive season

3. Signature loan – based on your good credit history & credit score you are granted a loan with no collaterals other than your own sign

4. Wedding loan – to cover your wedding expenses

5. Top-up loan – to extend the cover & raise the limit of an already active personal loan

6. Holiday loan – for holiday expenses

7. Agricultural loan – loan for the farmers

8. Home renovation loan – for repairing your house

9. Overdraft loan – for advance cash

10. Consumer durable loan – for purchasing gadgets & home appliances

So, intrigued right? To know more about the loans and availing them, contact Finway.