Our Loans are financial instruments that allow individuals and businesses to borrow money from banks, financial institutions, or lenders, with an obligation to repay the amount along with interest. They are tailored to meet specific needs such as buying a home, funding education, purchasing a vehicle, or handling personal expenses.

1. Home Loan: A home loan is specifically designed for purchasing, constructing, or renovating residential properties.
Features:

• Purpose: Buy a home, construct one, or renovate an existing property.
• Repayment Tenure: Typically ranges from 10 to 30 years.
• Interest Rate: Can be fixed or floating.
• Tax Benefits: Borrowers can claim deductions under sections 80C and 24 of the Income Tax Act (India).

2. Personal Loan: Personal loans are unsecured loans, meaning they don’t require collateral. They are versatile and can be used for any personal need.
Features:

• Purpose: Medical emergencies, weddings, vacations, or debt consolidation.
• Repayment Tenure: 1 to 5 years (varies).
• Interest Rate: Usually higher than secured loans due to the lack of collateral.

3. Vehicle Loan: A vehicle loan is used to finance the purchase of cars, bikes, or other vehicles.
Features:

• Purpose: Buy a new or used vehicle.
• Repayment Tenure: Generally 1 to 7 years.
• Interest Rate: Varies based on the type of vehicle and lender.

4. Education Loan: An education loan supports students in pursuing higher education domestically or abroad.
Features:

• Purpose: Cover tuition fees, accommodation, and other related expenses.
• Repayment Tenure: Can go up to 15 years, with a moratorium period (repayment starts after completing the course).
• Interest Rate: Often lower than personal loans, with concessions for female students.

5. Gold Loan: A gold loan is a secured loan where borrowers pledge gold ornaments or coins as collateral.
Features:

• Purpose: Immediate financial needs like business funding, medical emergencies, or personal expenses.
• Repayment Tenure: Typically ranges from a few months to 5 years.
• Interest Rate: Lower than unsecured loans.