All Types of Loans Under One Roof

Personal Loan

Personal loan is an unsecured loan given mainly to salaried (and selected self-employed) individuals for personal requirements like medical, marriage, travel, home interiors, etc.

Who is it ideal for?

• Salaried employees with regular income
• Existing loan holders looking for top-up / BT
• Immediate personal expenses & emergency needs

Basic eligibility (indicative)

• Age: generally 21–60 years (as per lender policy)
• Minimum net salary / income as per respective bank/NBFC
• Stable job track and acceptable credit history
• Existing liabilities within permissible FOIR / EMI ratio

Typical documents

• KYC: PAN, Aadhaar, photos
• Address proof: Aadhaar / rental agreement / utility bill etc.
• Income proof: last 3–6 months salary slips & bank statements
• Form 16 / ITR if required by lender

Home Loan

Home loans help you purchase, construct or renovate residential property. Existing borrowers can also transfer their loan (BT) and take top-up if eligible.

Types of home loans handled

• New home purchase (ready / under-construction, as per project approvals)
• Self-construction on owned plot
• Home improvement / renovation
• Balance transfer & top-up on existing home loan

Basic eligibility (indicative)

• Salaried or self-employed with stable income
• Property should be technically & legally acceptable to lender
• Own contribution (margin money) as per policy
• Clear banking & credit track record

Typical documents

• KYC: PAN, Aadhaar, photographs
• Income docs: salary slips/ITR, bank statements
• Property documents: agreement to sell, chain documents, approvals, NOC etc.
• Existing loan statement (for BT cases)

Loan Against Property (LAP)

LAP is a mortgage loan where you keep your residential or commercial property as security and avail funds for business expansion, consolidation of existing loans or personal needs.

Suitable for

• Business owners needing larger ticket funding
• Existing multiple high-cost loans wanting consolidation
• Education / marriage / property purchase where LAP is allowed

Key points

• Loan amount linked to property valuation & income
• Ownership remains with you; lender creates charge/mortgage
• Tenure usually medium to long term (subject to policy)
• Residential, commercial or mixed-use – depending on bank/NBFC

Basic documents (in addition to income KYC)

• Property chain documents & title proof
• Latest tax receipts, sanctioned plan (where required)
• Existing loan statement if property already mortgaged

Business & MSME Loans

Business loans include unsecured and secured finance for proprietorship, partnership firms, companies and other eligible entities for working capital and expansion.

Types handled

• Unsecured business loan (based on banking & turnover)
• Secured term loan / equipment / machinery finance
• MSME-linked products as per lender and scheme availability

Key eligibility aspects

• Vintage: minimum business existence as per product
• Turnover and profit track shown in ITR/financials
• Proper banking and GST trail (if applicable)
• Clean repayment and credit track record

Indicative documents

• KYC of proprietor / partners / directors
• Business proof: registration, GST, licences etc.
• Bank statements, ITR, audited financials
• Collateral documents (where secured loan is opted)

Vehicle / Car Loan

Vehicle loans can be availed for new cars, pre-owned (used) cars, commercial vehicles and in some cases two-wheelers – subject to lender products and norms.

Coverage (as per lender)

• New car and SUV purchases
• Used / pre-owned cars with acceptable valuation & age
• Commercial vehicles – SCV, LCV, HCV etc. (where available)
• Two-wheeler loans with select partners

Typical requirements

• Margin money / down payment as per product
• Income proof and banking to justify EMI
• Vehicle quotation, proforma invoice and RC details

Gold & Secured Small Loans

Gold loans and other small secured facilities are generally used for urgent short-term requirements against gold jewellery or other acceptable collateral.

Key points

• Loan amount depends on gold valuation & LTV norms
• Tenure and interest structure depend on lender product
• Repayment can be EMI or bullet, as per scheme

Education Loan

Education loans finance higher studies in India or abroad, covering tuition, living and related expenses, based on product and eligibility.

Highlights

• Courses and institutes must fall under lender’s approved list
• Co-borrower (usually parent/guardian) is typically required
• Moratorium and repayment terms vary by product

Key documents

• Admission letter / offer from institute
• Fee structure and course details
• KYC & income documents of student and co-borrower
• Collateral documents, if collateral-based loan is opted

OD / CC & Working Capital Limits

Overdraft (OD), Cash Credit (CC) and other working capital limits support the day-to-day cash flow of business instead of fixed EMIs.

Key features

• Interest charged on utilised amount (as per product)
• Limit usually renewed annually subject to review
• May be secured against stock, receivables or property

What banks look at

• Turnover, margin and profit levels
• Banking patterns and cheque returns
• Stock / debtor levels and ageing

Balance Transfer & Top-Up

Balance transfer (BT) means shifting your existing loan from one lender to another for better rate/tenure/structure. Many times, additional top-up can also be availed if eligible.

Why consider BT?

• To reduce EMI by lowering interest rate or increasing tenure
• To consolidate multiple loans into a single structured loan
• To raise additional funds via top-up on existing good track records

Important to evaluate

• Current rate vs new rate and effect on total interest cost
• Processing fee, charges and any pre-closure costs
• Remaining tenure and savings vs one-time expenses