Loans
Personal Loan
A personal loan is an unsecured loan that individuals can use for various personal needs such as medical expenses, weddings, travel, or home renovations. It provides flexibility with a quick approval process and minimal documentation. Personal loans are available with competitive interest rates and flexible repayment options. Whether you're consolidating debt or funding a special occasion, a personal loan can provide you with the financial freedom you need.
Features:
- No collateral required
- Flexible repayment tenure
- Quick approval process
- Lower interest rates for good credit scores
Business Loan
A business loan is designed to provide funding for a company's growth, expansion, or operational needs. These loans are available for startups, SMEs, and large businesses alike. Business loans help cover various expenses, including working capital, equipment purchases, and inventory management.
Features:
- Secured or unsecured options
- Flexible loan amount
- Interest rates vary based on the business profile
- Repayment terms based on cash flow
Housing Loan
A housing loan is a financial product that helps individuals purchase or renovate their homes. These loans typically have long repayment tenures, making them affordable for most customers. Whether you’re a first-time homebuyer or looking to refinance, a housing loan can provide the necessary financial support.
Features:
- Loan for purchase or renovation of property
- Long repayment tenure
- Affordable interest rates
- Tax benefits under Section 80C and Section 24(b)
Overdraft
An overdraft is a short-term loan that allows individuals or businesses to withdraw more money than they have in their account, up to a certain limit. It’s a convenient way to manage cash flow gaps and can be used for emergencies or other unexpected expenses. Overdrafts are flexible, and interest is charged only on the amount overdrawn.
Features:
- Pre-approved credit limit
- Interest is charged on the overdrawn amount
- No fixed repayment schedule
- Ideal for managing short-term cash flow gaps
Cash Credit
Cash credit is a short-term working capital loan given to businesses, especially for managing day-to-day operations and financing inventories. It is a revolving loan where businesses can borrow and repay based on their financial needs. Cash credit facilities are provided by banks based on the business's creditworthiness and asset security.
Features:
- Revolving credit line
- Used for financing working capital
- Secured against inventory or receivables
- Flexible repayment terms
