One of the most common types of business finance is a term loan. The loan could be secured or unsecured in nature. … The tenure is fixed, ranging between 1 and 5 years if unsecured, or up to 15 – 20 years for secured business loans.
A Personal Loan is an unsecured loan, which means you don’t need to pledge a collateral to receive the funds. Availing one is easy – you can apply online and you can use the money to meet almost any expense.
A home loan is an amount of money that an individual borrows from a bank or money lending company at a certain rate of interest to be paid with the EMI every month. The property is taken as a security by the money lending company for the Home Loan.