Personal Loan Or Loan Against Property

What Kind of Loan Seeker Are You? Find out now! ( Code 0047 )


What Kind of Loan Seeker Are You? Find out now!


What Kind of Loan Seeker Are You?


Alright, so you’ve made plans to spruce up your brand new home with the latest LED plasma, curved smart TV on the market. Being the smart buyer that you are, you instantly analyze that such an indulgence may be a little heavy for your pocket and home loans might not include home electronics as a part of the deal. In such a scenario, it’s quite natural to seek personal loans that will help you satisfy your material desires with minimal immediate impact on your savings.

Today, banks and financial institutions are more than eager to help out borrowers, who wish to avail retail or personal loans that are provided to assist you to tackle your personal needs.

So, what kind of loan seeker are you? Let’s find out.

The Gadget Guy

You are motivated by the latest consumer durables on the market. However, all the cool devices that ease up your personal life aren’t too cool on your pocket. Here’s where you seek a consumer durable loan that lets you buy lifestyle assets like television, refrigerator, washing machine, air conditioner and other similar goods for personal comfort. Lent out for a maximum period of 5 years, several banks in India offer a personal loan in the range of INR 5,000  to INR 2 Lakhs.

The Wedding Loaner

Marriage is one of the most important events in a person’s life or his family. Also, there is no reason why money should be a hindrance while planning such an important occasion. Without wanting to ask your family, seeking a wedding loan makes perfect sense! You still get to have that big fat Indian wedding, dazzle all with envy and come out shining. Because repayment is in a phased manner, it doesn’t dent your pocket heavily.

The Festive Creditor

You work hard to ensure due comfort and happiness to your family. Festivals make up a special bonding time for you and your kin. However, festivals do not come cheap. But when you have banks providing you festival loans, why should celebrations and the accompanying happiness be sacrificed? You seek this personal loan to fulfil your personal and family’s desire during festivals. Making it more lucrative, this loan usually is laced with discounts. Also, this option allows you to borrow small, as banks readily loan out amount as less as INR 5000. But be sure to pay up your EMIs within a year.

The Respectable Pensioner

So what if you have retired from active work life and meeting your needs on a monthly pension? There are loans for you too. Dedicated towards serving the respectable elderly, several banks in the country have schemes aimed at your welfare. Aptly called the pension loan, this kind allows you to draw sums up to 7-10 times of the amounts as the last pension.

The Geek Borrower

You live inside your CPUs, literally. And if there is anything that motivates you to look around, bet it is a hefty discount on a new system! But even then, computing devices do not come cheap. Your insatiable quest for knowledge and your work, of course, can be funded with a loan. In fact, in a bid to boost the computer penetration in India, not only banks but even leading PC players have come forth with loans on attractive terms to those purchasing personal computers and laptops. Under this category of loan, you can borrow up to INR 1 Lakh for the hardware. While there is a separate loan for buying the software to the tune of INR 20,000.

The ICU Loan Seeker

There are certainly times when there is a sudden call for medical emergency. Though the Medical Insurance is the best way to let you clear bills, there are some components, ailments and age groups that these insurers conveniently miss out. Preexisting maladies, last-minute money crunch and even instant upgrades of medical treatments could be fulfilled by a personal loan with quick approvals to tide over hospital expenses during illnesses in the family.

The Credit Card Borrower

Either your shopping spree maxed out your credit cards or you being the default tech help for everyone in your family and friend circle for paying bills online, in the name of convenience, has left you pennies away from your limit. Here’s where you seek a personal loan on your credit card and use that money to finance your needs. The interest rates of the loan are much lower (about 15% p.a.) as opposed to the credit card interest (of about 36% p.a.) and the ease of monthly installments fits into your lifestyle just right.

Personal loans help you glide through that unforeseen financial obstacle at a very short notice. Since you are a smart seeker, we know that you compare various loan policies and check with different banks to make a well-informed decision.

Beat Mark

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