Banks presents a range of Home Loan products for different needs and situations. So whether you want to purchase a home, renovate or expand your existing home, buy a plot of land and build a home or transfer your existing home loan bank offers a home loan as per your requirement.
The loan is advanced against the mortgage of an existing property which is already owned by the borrower. The property may be a residential or commercial property. These loans are for meeting working capital requirements, business expansion plans or personal usage like education, marriage etc.
A short-term loan in which the borrower's car title is used as collateral. The borrower must be the lien holder (i.e. own the car outright). Loans are usually for less than 30 days. If the loan is not repaid, the lender can take ownership of the car and sell it to recoup the loan amount.