Personal loans are those which are taken to serve some immediate purpose. There are lot of banks in India which give personal loans. You will need to compare various factors like EMI, interest, loan amount etc to choose the best place to get your personal loan. It requires no collateral, but you will require submitting a number of documents. Large amounts can be taken as personal loans. In general, it has to be paid back within five years.

Many people start their business with some loan taken from their family or friends. These are easy but limited loans that can help in starting the business. However, soon you will need more money and then you will have to go to lenders like banks or other lending institutes. You can get loans against your asset like home. However, you must be very specific when you go for business loans.

With the prices of houses skyrocketing, it’s common to seek home loan from banks and financial institutions. Due to the falling interest rates, home loans are now available cheaper. The process of online applications has made approvals and disbursals fast. However, you get an approval for a home loan only after banks go through your credit history and check your borrowing potential.

In times of financial trouble, a loan can act as a life savior. One loan that can be a solution to numerous financial problems is loan against property (LAP). Loan Against Property is a secured loan which is provided against the mortgage of a property.LAP can be applied by people who are self-employed and are in need of a huge amount of money. By applying for LAP, they can secure funds without renting or selling out their property.