1. Personal Loans

  • Unsecured (no collateral required).

  • Can be used for multiple purposes: medical bills, weddings, travel, emergencies.

  • Higher interest rate compared to secured loans.

2. Home Loans

  • For purchase, construction, or renovation of a house.

  • Usually secured against the property itself.

  • Long repayment tenure (up to 20–30 years).

3. Vehicle / Auto Loans

  • For purchasing two-wheelers, cars, or commercial vehicles.

  • Secured against the vehicle.

4. Education Loans

  • For higher education (in India or abroad).

  • Covers tuition, living expenses, travel.

  • Repayment often starts after the course + grace period.

5. Gold Loans

  • Secured by pledging gold jewelry or coins.

  • Quick disbursal, shorter tenure.

6. Business Loans

  • For working capital, expansion, or equipment purchase.

  • Can be secured (against assets) or unsecured.

  • Sub-types:

    • Working Capital Loans

    • Term Loans

    • Invoice Financing

    • MSME Loans

7. Agricultural Loans

  • For farmers: purchase of seeds, fertilizers, machinery, irrigation systems.

  • Offered at concessional interest rates in many countries.

8. Loan Against Property (LAP)

  • Secured by mortgaging residential/commercial property.

  • Can be used for personal or business needs.

9. Overdrafts & Credit Lines

  • Flexible borrowing with a limit (like a credit card but linked to account).

  • Interest charged only on the used amount.

10. Consumer Durable Loans

  • For buying electronics, appliances, gadgets, furniture.

  • Often structured as EMI (Equated Monthly Installments) schemes.