What is a Loan?

A loan is an amount borrowed from a bank or other financial institutions by an individual for meeting a planned or unplanned financial commitment. The borrowed amount (Principal) has to be returned with interest at a specific interest rate (Rate of Interest) in a particular time frame (Tenure of the Loan). The interest rate is pre-decided while taking the loan. Giving loans one of the primary activities of banks and Non-Banking Financial Companies.

What are the benefits of a loan?

Flexible repayment – The EMI options available in the market are structured in the way that it is easy for the customer to repay the amount in instalments.

Tax benefits – The interest amount on certain loans are eligible for tax deductions. In some types of loans even the Principal amount returned can have tax benefits.

Interest rate – The loans are approved at a very affordable rate of interest.

Processing time – With leading liaison sites like Finforutne, the processing of time for loans  has reduced considerably. Your loan request can  be sanctioned within a day or two of applying.

Types of Loan

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Owning a home is not just a matter of pride but is also a valuable asset for an individual. Rather than wait endlessly after applying for a home loan offline, it is better to do the process from your living room with a few clicks. At Finfortune, you can choose from a wide range of home loan options from various banks and financial institutions. The property can either be for personal or rental use. We ensure you get the best offers on home loans from all leading banks and other financial institutions.

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It is a loan taken against gold jewels. A certain amount of gold has to be pledged as collateral for the loan amount requested as the loan amount sanctioned depends on the market rate of gold while applying for the loan. On paying back the principal and the interest the borrower can get back the pledged gold.. The loan can be used for any purpose and this freedom is an advantage compared to other types of loans.

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Cars have evolved from being a luxury purchase to an essential one. Buying cars is no longer an unachievable dream. Individuals can easily apply for a car loan in a few clicks with minimal documentation provided they satisfy the eligibility criteria.

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Your bike is not just status symbol but also one of the quickest modes to commute. A bike loan can help you become the proud owner of your dream bike. Usually, the bike loan amount can cover 100 per cent of the bike’s price along with the safety equipment and insurance policy. The processing fee involved in bike loans is very minimal compared to other forms of loans.

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Whether you want to expand your business, revamp the existing one or increase your working capital, business loans assist you in every phase. You can get the loan at the most affordable interest rates as there are multiple players in this segment. With Finfortune, you can get to see, compare, and analyze quotes from multiple banks and choose the one that suits you the most. With flexible EMI options, you can easily repay the loan in a few years’ time. You need not submit any collateral for business loans.

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Loan against property is a secured loan. You can avail this loan by mortgaging your assets such as your house or commercial property. As it is a secured loan, the bank obtains the right to legally put your property up for sale if you are unable to repay the loan amount. We at Finfortune have streamlined the process of applying for Loan against your property by enabling you to compare the best quotes from all the leading banks and other financial institutions.

Get your Loan in 3 simple steps

  • Fill in the Loan Application Form, to check your eligibility.
  • Compare Loan Quotes from various banks and NBFCs
  • Get instant e-approval after successful completion.

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