If it is payable in three to five years then it is called as medium term loan. For any loan which is payable over more than five years is called as long term loan.

Another concept used in loans and advances is moratorium period. It means time between the date of actual availment of loan and date of start of repayment of loans. It mahy be necessary in certail cases since the borrower may not have immidiate cash flows to start repayment to reduce the Debt Consolidation Loan.

Main points that must be kept in mind while availing a loan is what is rate of interest, what is the repayment period and whether the repayment matches with the cash flows to be generated. Various types of loans are explained in the following sections.

Personal loans are loans taken usually by individuals for personal purposes. Most of the banks, non banking finance companies and financial institutions are active players in personal loans segment. Tenure of the personal loans is usually 1 to 3 years.

Auto loans as the name signifies are various loans taken to buy your dream vehicle. IT may be a car loan, two wheeler loan or commercial vehicle loans. Tenure of the auto loans provided by the banks is 3 to 5 years. However, in certain cases of commercial vehicle loans the tenure may be extended depending upon the requirements.

Where can one obtain personal loans and recommend a personal loan lender for new customers? Online lenders allow you to compare personal loans and get rates quickly, sometimes instantly.

Home loans are mainly needed for buying a new property or renovating the existing home. Most of the banks have their home finance companies who cater to the specific needs of home loans. Need for separate entities for homeowner loans primarily arises out of the fact that special skills are required to assess the risks in home loans and tenor the home loans also is longer mainly 10 to 20 years.

Payday loans is the money which is borrowed for a very short tenure mainly a month or so to meet an immediate expenditure. In other words this is kind of bridge loan. So if you are faced with some unexpected expenditure so an ideal option would be to go for pay day loan which gets adjusted against your next month’s salary.

You might be availing some 3 or 4 loans may be auto loans and personal loans. You end up defaulting on one of these loans. So what to do? Availing a bad credit loan is the answer to your problem.

Our section of business loans will throw some light on the loans required for acquiring business assets, running day to day operations and working capital loans etc. Business loans may in nature of bank loans, commercial loans and construction loans etc.

As you keep paying off your mortgage loan on your home, the value of the home goes on increasing and outstanding debt on the same goes on decreasing. You can take a top up finance on this by availing a home equity loan. This loan can be taken on any free property also.

Real estate market is really a hot topic worldwide. So if you want to build a residential project or commerical space then you need money for the same. Since cost of acquistion & cost of construction runs into millions of dollars so you would be needing real estate loans.

In the education loans segement, you will find all the required information like types of education loans, student loans and college loans etc. Basic purpose of such loans is to finance the cost of education and normally the repayment starts after the completion of the course.