What is Loan in Bank Loan, Which Is Better?
How to get a loan from the bank, get the full information here
Indian Hindi speakers often want loan related information from what is Loan in Hindi terms! Loan is an English word! Loans are called loan in Hindi language whereas in Urdu language loan is called loan!
If you understand it in a common language, it is the money taken in borrowing which is the return of money with some benefits within the given time interval!
What is the definition of loan
A person, business, or country, especially borrowed money from the bank and refund interest with the amount of loan within a certain time frame, it is called loan!
Bank provides funds to a person, business, or state and country as a loan for a specified period! The loan holders have to pay interest to the bank with the amount of loan!
According to loan money, borrowers have to show their property! Property has to be mortgaged or there is a guarantee of debt repayment!
When a debtor is unable to return the loan amount and interest, the bank seizes his property and charges money by it!
Types of Loans
According to the duration and amount of the loan is divided into several sections! You will study all types of loans, then you will be able to know which one can be the best loan for you!
Secured loan
Secured loan is a loan in which some of the borrower's assets or property papers or rights have to be shown in front of the banks as collateral. The bank's money is safe in the bank or person giving the loan to the bank!
Whereas the borrower also has the advantage! The interest rate in the loan is low, the credit is also high and can be available for long periods!
You can keep home loans in this category like you take a home loan! The bank sees and examines your land paper, keeps some of its documents with you.
The bank expects that my money will be safe with this person! If the borrower is unable to return the loan and interest on time, then the bank can get his money from that property!
If the person taking the borrower dies, the bank will not take possession of his property, the bank has brought a new plan for it! In the name of the borrower, the bank takes the insurance, whose premium lender has to pay only!
Unsecured loans
Unsecured debt is seen as a monetary loan, in which the borrower or institution does not have to show their property in collateral form before the bank! This type of loan is less! The loan amount is also very low and the interest rate is very high!
Credit cards and bank overdrafts are the best examples in which the bank gives credit to its customer by looking at transactions in its bank accounts!
Subsidized loan
Concessional debt is a loan when the bank lends its loan to the customers by reducing interest rates or by giving a concession in property as a bank guarantee, it is called concessional loan!
But in common language, it is a loan in which the bank gives you many temptations! It sounds very easy to see you, but when you read and understand its term and condition, you will feel that it is a good marketing!
Central Government and State Government loans are also under this category! In which the government says that the bank guarantees or interest rates you do not have to pay now later!
You can be forgiven for the rate of up to such a percentage between this period! This type of loan is not available to every person, for that, the government makes some good term and condition in which at least people get the chance!
List of concessional loans in India
- Prime minister loan scheme loan
- Prime minister housing scheme loan
- Agricultural credit
- Startup india loan
- Education loan
- Different Types of Loans for Women
- Different types of loans for minorities
Bank Loan in Hindi
People have made their lives better than the loan in the bank loan, but some people make loans for themselves by taking loans.
Take care of these things before taking a loan from the bank.
- See your need
- How much loan should
- How long duration
- What will you gain from this
- How much money will be returned from where the loan money is being levied
- Are there any other options
- Which bank will get the cheapest loan?
- Is there any concessional loan available to the Government of India and the State Government for you
- What are the resources we have to pay the loan amount and interest
- If I die, how will it be paid?
Bank Loan Information / Bank Loan Information
The Reserve Bank of India is the central bank of India, which sets out the legal policy of public sector banks, State Bank of India and associates and private banks. First of all, I want to start with the names of banks in India.
Name of banks in India
Public Sector Banks Name
- Bank of india
- Dena Bank
- IDBI Bank
- Indian women bank
- Indian bank
- Oriental Bank of Commerce
- Punjab National Bank
- United Bank of India
- UCO Bank
- Allahabad Bank
- Andhra Bank
- Bank of baroda
- Bank of Maharashtra
- Canara Bank
- Central bank of india
- Corporation bank
- Indian Overseas Bank
- Syndicate Bank
- Union Bank of India
- Vijaya Bank
- Punjab and Sindh Bank
State Bank of India and associates
- State Bank of India
- State Bank of Bikaner and Jaipur
- State Bank of Travancore
- State Bank of Patiala
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Bikaner
- State Bank of Jaipur
private bank
- ICICI Bank
- HDFC bank
- axis Bank
- Kotak Mahindra Bank
- Yes Bank
- Federal Bank
- South Indian Bank
If you are planning to take any loan, then one thing you should first decide, what documentation do you have and what property you are going to take, instead of which property you will be shown to the bank as a guarantee!
In most of India's banks, the documenting of loan is more or less the same! If you are behind all these, then you should know about the concessional loans given by the government which you can easily get!
Yes, the variation in interest rates is according to the banks, before buying a loan, do the compound, which can be of benefit to you!
How to take a loan from a bank
How to take a loan from the bank, this can be a simple question if you already prepare it! It is always easy to get a loan from a government employee or a private sector employee, because there is no shortage of documents!
But the problem is that he does not have the employees! It is difficult to prove your income! These are some of the students who do not have enough knowledge of educational institutions! What can be the option for such a person!
Whatever income you have, income tax file must do! For which you do not have to spend much! Even if you are out of tax scope, you can file an income tax even if your income is proof!
Farmer brothers can file income tax, irrespective of income, tax is not paid! So farmers can easily make their income proof! If loan loan or agriculture related loan is required, then he should keep the documents of his land correct!
If your documents are complete then most of the chances are that the bank will give you a loan easily!