Bank Loan and its Types Available in India

I don’t think loan needs any introduction for you to understand what it is, especially after the very popular cases of Nationalized Banks in India where borrowers has failed to pay their debt. If we still talk about the definition of loan then, it is a sum of money borrowed from a bank to assist for certain planned and unplanned events. Borrowing money in exchange for future repayment of the principle amount along with the interest is known as Loan.