Following
are some of the popular loan schemes offered by banks:
1.
Housing
Loans: Finance is provided for purchase of a new House. Loan is also given for
the purchase of land and constructions of house on the same. The rates of interest to be charged depends
on two factors firstly the amount of loan and secondly the time period for
which the loan is required. The rate of interest may be fixed or fluctuating. In
case of fixed rate of interest the interest rate remain the fixed throughout
the period of loan inspite of the fact that the current rate of interest may be
different the rate at which the loan was
obtained. In case of fluctuating rate of
interest the rate of interest changes according to the current rate in the
market.
2.
Personal
Loan : Finance is provided to meet out all personal needs like renovating the
house, purchasing a computer, marriage or medical expenses etc.
3.
Travel
Loan : Finance is provided to meet out the travel cost of the customers either
domestic or for international visits.
4.
Car
Loan/Vehicle Loan : Finance is provided for purchase of car or other vehicles
either for personal or business purposes.
5.
Education
Loan : Finance is provided to meet out the education cost of children of the
customers.
6.
Festival
Loans : Finance is also given to meet
out the festival expenses.
