My sister works at ICICI Bank, and when I told her that I wanted to take a personal loan. She told me which personal loan I would want to take. As I wasn't aware, I asked her about the types of personal loans in India. Here is what she told me.
What are the Different Types of Personal Loans in India?
According to my sister, there are 5 types of personal loans in India. These are
| Personal Loan | Advantages |
Wedding Loans |
Easy application process, Interest rates at 10.80% pa. Minimum documentation, loan amount ranging from Rs. 50,000 - Rs. 50 Lakhs. |
Home Renovation |
Attractive interest rates, Minimal Documentation, Quick processing and disbursal, No security/ collateral required |
Holiday Loan |
Personal Loans up to Rs. 5 Lakhs, Flexible Tenure from 12-72 months, Low interest rate of 10.80% pa. |
Fresher Funding |
Minimal Documentation, Flexible Tenure, Fixed Interest Rates |
NRI Personal Loan |
Loan amounts up to 10 Lakhs, No collateral required, Simplified documentation, Interest rates starting from 15.49% pa. |
This is what she told me when I asked how many types of personal loan there are with ICICI bank.
She also told me that I could avail of these loans through the app, net banking or by visiting the branch. I hope this information about how many types of personal loan has been of help to you.
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There are different types of personal loans from banks that you can apply for. Being a bank employee, I can help you learn the personal loan types in detail. This will help you choose which kind of personal loan you want to apply for. Let me share the list here:
What are the Different Personal Loan Types in India?
I have worked at HDFC for a decade so let me tell you what kind of personal loans this bank provides to its customers. In other banks as well, you will find most of these loans but the interest rates and eligibility criteria might vary. Here is a list of personal loans:
| Loan Name | Reasons for Which the Loan Can be Availed |
Personal Loan for Medical Emergency |
Covering unexpected medical expenses |
Personal Loan for Marriage |
Financing your wedding expenses |
Premium Personal Loan |
To fund expenses for elite customers |
Personal Loan For Teachers |
To meet unexpected expenses and more as a teacher |
Personal Loan For Emergency |
To cover the expense, irrespective of the emergency type |
Personal Loan For Home Renovation |
To upgrade or carry on house transformation activities |
Personal Loan For Students |
To fund your academic expenses |
Personal Loan For Women |
Cover expenses as a woman |
Personal Loan For Salaried |
Cover your expenses as a salaried individual |
Personal Loan For Government Employees |
To fulfill your immediate fund requirements |
If you are planning to avail a personal loan from another bank, visit its official portal and get to know more details about it. This list is just to give you some idea about the types of personal loans you can avail of.
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Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
Authors Of The Question
What is the Different Types of Personal Loans?
Pratik
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7 months
2024-03-15T08:23:38+00:00 2024-03-15T08:24:50+00:00Comment
2 Answers
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