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There are so many types of credit sources available today make many people become
confused. In this post we¶ll try to describe various types of loans currently available, which
may be useful to you in determining the type of loan is right for you;

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A Bad Credit Personal Loan is a loan made for people with a bad credit rating. However
created, your past record of County Court Judgments, mortgage or other loan arrears can live
on to deny you access to finance that other people regard as normal.

Purpose :-Home improvements or buy the new car you want.

Bad credit personal loan is a credit for those person who want to purchase a new car or they
want to reconstructive house. So If you are a homeowner with equity in your property, a Bad
Credit Personal Loan can bring that normality back to your life. Secured on your home, a Bad
Credit Personal Loan can give you the freedom, for example, to do the home improvements
or buy the new car you want.

The limit of the bad credit personal loan is up to 125% of your property value.




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Purpose:- Loan used to ³bridge

This short term loan is a kind of loan used to ³bridge´ the financial gap between monies
required for your new property completion prior to your existing property having been sold.
Bridging loans are short-term loans arranged when you need to purchase a house but are can¶t
arrange the mortgage for some reason, such as there is a delay in selling your current home.
The beauty of bridging loans is that a bridging loan can be used to cover the financial gap
when buying one property before the existing one is sold. A bridging loan can also be used to
raise capital pending the sale of a property. Bridging loans can be arranged for any sum and
can be borrowed for periods from a week to up to six months. A bridging loan is similar to a
mortgage where the amount borrowed is secured on your home, but the advantage of a
mortgage is that it attracts a lower interest rate. While bridging loans are convenient, the truth
is that the interest rates can be very high.

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Purpose:- for business purpose

As the name suggest business loan is designed for a wide range of small, medium and startup
business needs including the purchase, refinance, expansion of a business, development loans
or any type of commercial investment. Business loans are generally available at really
competitive interest rates from leading commercial loan lenders. A business loan can be
secured by all types of business property, commercial and residential properties. Business
Loans can offer up to 79% LTV (Loan to Valuation) with variable rates, depending on status
and how long the term is. Business loans are normally offered on Freehold and long
Leasehold properties with Bricks and Mortar valuations required. Legal and valuation fees
are payable by the client.

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Purpose:- for fulfilling short term needs

It is for those people who are already employed. Payday Loans also known as Cash Loans are
arranged for people in employment who find themselves in a situation where they are short of
immediate funds. A Payday Loan can assist you in this situation with short term loans to help
you get through tough financial times. Loans are repayable on your next payday, although it
is possible to renew your loan until subsequent paydays. To apply for a loan you must be in
employment and have a bank account with a checkbook. A poor credit rating or debt history
is initially not a problem.

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Purpose for purchasing a car:-

The basic types of car loans available are Hire Purchase and Manufacturer¶s schemes. Hire
purchase car finance is arranged by a car dealership, and in essence means that you are hiring
the car from the dealer until the final payment on the loan has been paid, when ownership of
the vehicle is transferred to you. A Manufacturers¶ scheme is a type of loan that is put
together and advertised by the car manufacturer and can be arranged directly with them or
through a local car dealership. You will not own the car until you pay back the loan in full.
The car would be repossessed if you default on repayments.

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Purpose:-for purchasing a home

A Home Loan is a loan secured on your home. You can unlock the value tied up in your
property with a secured Home loan, and many people choose to do so with this kind of loan.
The loan can be used for any purpose, and is available to anyone who owns their home.
Home loans can be used for any purpose such as, home improvements, buying a new car,
taking a vacation, paying of credit cards and debt consolidation.

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Purpose:-for Home Improvementc

cA Home Improvement Loan is a low interest loan secured on your property. With a Home
Improvement Loan you can borrow money with low monthly repayments.
The loan can be repaid over any term between 5 and 25 years, depending on your available
income and the amount of equity in the property that is to provide the security for the loan.
You need to talk to your lender about that. A Home Improvement Loan can help you with
installing a new kitchen, bathroom, extension, loft conversion, conservatory, landscaping
your garden or purchasing new furniture. You can even use it on non-house expenditure like
a new car or repaying credit card or other debts, which makes it convenient and useful for
multi purposes.


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Purpose:- for personal use

There are two categories of personal loans: secured personal loans and unsecured personal
loans ± See individual titles below. Homeowners can apply for a Secured personal loan
(using their property as security), whereas tenants only have the option of an unsecured
personal loan.

 


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A remortgage is changing your mortgage without moving your home. Remortgaging is the
process of switching your mortgage to another lender that is offering a better deal than your
current lender. This process is done to help you save money. A remortgage can also be used
to raise additional finances by releasing equity in your property.

You can borrow money and rates are variable, depending on status.


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A secured loan is a loan that uses your home as security against the loan. Secured loans are
suitable for when you are trying to raise a large amount; are having difficulty getting an
unsecured loan; or, have a poor credit history. Lenders can be more flexible when it comes to
secured loans, making a secured loan possible when you may have been turned down for an
unsecured loan. Secured loans are also worth considering if you need a new car, or need to
make home improvements, or take that luxury holiday of a lifetime. You can borrow any
amount of money and repay it over any period from 5 to 25 years. You simply select a
monthly payment that fits in your current circumstances.


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A Secured Personal Loan is a loan that is secured against property. Secured personal loans
are suitable for when you are trying to raise a large amount; are having difficulty getting an
unsecured personal loan; or, have a poor credit history. Lenders can be more flexible when it
comes to Secured personal loans, making a Secured personal loan possible when you may
have been turned down for an unsecured personal loan. Secured personal loans are also worth
considering if you need a new car, or need to make home improvements, or take that luxury
holiday of a lifetime.

You can borrow any amount you need and repay it over any period from 5 to 25 years.

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Purpose:-for study purpose

A student loan is way of borrowing money to help with the cost of your education.
Applications are made through your Local Education Authority or the government. A student
loan is a way of receiving money to help with your living costs when you¶re attending
college. You start paying back the loan once you have finished studying, provided your
income has reached a certain level.

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A tenant loan is an unsecured loan granted to those that do not own their own property. A
tenant loan is always unsecured because in most cases, if you are renting your
accommodation, you do not have an asset against which you can secure your loan. Tenants
sometimes find that some loan companies will only lend money to homeowners. If you are a
tenant you need to look for a company, bank or building society willing to give you an
unsecured loan.

 
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An unsecured loan is a personal loan where the lender has no claim on a homeowner¶s
property should they fail to repay. Instead, the lender is relying solely on the ability of a
borrower to meet their loan borrowing repayments. Because you not securing the money you
are borrowing, lenders tend to limit the value of unsecured loans. The repayment period will
range from anywhere between six months and ten years. Unsecured loans are offered by
traditional financial institutions like building societies and banks but also recently by the
larger supermarkets chains. An unsecured loan can be used for almost anything ± a luxury
holiday, a new car, a wedding, or home improvements. An unsecured loan is good for people
who are not homeowners and cannot obtain a secured loan for example; a tenant living in
rented accommodation.

 
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An Unsecured personal loan is a personal loan where the lender has no claim on a
homeowner¶s property should they fail to repay. Instead, the lender is relying solely on the
ability of a borrower to meet their loan borrowing repayments.cThe amount you are able to
borrow varies. The repayment period will range from anywhere between six months and ten
years. An Unsecured personal loan can be used for almost anything ± a luxury holiday, a new
car, a wedding, or home improvements. An Unsecured personal loan is good for people who
are not homeowners and cannot get a secured loan. For example, this is a good program for
renters.

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Actually I want to do a MBA and I have not enough money for doing a study. So I want to
take a study loan for doing MBA and I choose a bank of India for taking a loan .there are
many factors behind it, like interest rate is less as compare to other banks and many more«


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Pursuit of studies In India and abroad


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Graduate and post-graduate courses in engineering, computer technology, medicine etc.All

vocational courses/job oriented diploma courses, recognised by govt and universities. Similar
courses pursued in universities abroad. Full time post graduate research in any of the
aforesaid subjects.c



A person Should be a citizen of India. For vocational training courses and job oriented course
age of the individual should be between 15-28 years and 18-30 in case of post graduate
courses and/or studies abroad. The applicant should have a good academic record. For studies
abroad, the candidate should have secured admission in a particular university after having
appeared in the specific entrance examinations. The applicant should have secured a
minimum of 50% marks in the major subject. In case of SC/ST candidates eligibility norms
may be relaxed.

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The loan could vary depending on the specific subject requirement. For studies abroad Rs15
lac. For studies in India Rs 7.5lakhs



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Up to Rs 4lakhs -nil
For Studies in India- 5%
For studies abroad-15%

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Within 15 years from the first date of disbursement, including moratorium period

Card Issuers Interest Rate (in %) APR(in %)

Bank Of India 34.49 4.59
ICICI Bank 41.75 5.56
SBI Bank 36.59 4.87
Standard Charted Bank 44.75 5.96
HDFC Bank 35.49 4.73
 I choose this bank because the first reason is that this is a government bank, and second is
that the interest rate is less than other banks and the APR is also low of the bank of India.
Because I compare the interest rate with other bank like Punjab national bank charge a 12%
interest up to 4 lac, state bank of Hyderabad charge 10%. So in this way I can find that which
is best and cheap source for taking a study loan, so I chose a bank of India

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1.c Discover® Student More Card
Built for actual exam-taking, power nap-loving students.

c 5% Cash back Bonus®* in categories that change like travel,

department stores, gas, groceries, restaurants, and more means
extra money for you, and extra toppings for your pizza.
c 5% to 20% Cashback Bonus at our exclusive (as in you need
to be on the list) online shopping mall.
c Up to 1% unlimited Cashback Bonus on everything else you
buy - from textbooks to toothpaste, automatically.

Intro APR Intro Period Regular APR Annual Fee Balance Transfer Credit Needed
0%* 6 Months* 13.99% - 20.99% (Variable)* None No Fair

2.Discover® Student Card - Monogram Collection

Built for actual exam-taking, power nap-loving students.

c 5% ÷
 

* in categories that change like travel,
department stores, gas, groceries, restaurants, and more means
extra money for you, and extra toppings for your pizza.
c 5% to 20% ÷
 

at our exclusive (as in you need to
be on the list) online shopping mall.
c Up to 1% unlimited ÷
 

on everything else you
buy - from textbooks to toothpaste, automatically.

Balance Credit
Intro APR Intro Period Regular APR Annual Fee
Transfer Needed
0%* 6 Months* 13.99% - 20.99% (Variable)* None No Fair
3.Citi Forward® Card for College Students
c No Cosigner required
c APR reduction on purchases when using credit wisely
c 100 ThankYou Points each billing period that you pay on
time and stay under your credit line
c Earn up to 8,500 bonus points after you sign up for paperless
statements and make $250 in purchases within the first 3
months of
Intro Annual Balance Credit
Intro Period Regular APR
APR Fee Transfer Needed
12 months on Balance 12.99% - 19.99%*
0%* None Yes Good
Transfers* (Variable)

4. Discover® Student Open Road Card

Put a road trip in your wallet.

c Double ÷
 

 at any gas station and any
restaurant (yes, even on those infamous 1 AM burritos.)
c Hello 5% to 20% ÷
 

at our exclusive online
mall; goodbye mall-walkers.
c Up to 1% unlimited ÷
 

on everything else you
buy along the way, automatically.
c Turn your ÷
 

into even bigger rewards by
redeeming for gift cards or eCertificates from more than 100
brand-name retailers.

Intro Intro Annual Balance Credit

Regular APR
APR Period Fee Transfer Needed
13.99% - 20.99%
0%* 6 Months* None* No Fair
(Variable)*
MY CREDIT CARD

Citi® Dividend Platinum Select® Card for College

Students
c No Consigner Required
c Earn 5% Cash Back on purchases at supermarkets, drugstores,
gas stations, convenience stores & utilities (including cable)
for 6 months; 1% thereafter*
c Earn at least 2% cash back in popular rotating categories like
restaurants, apparel, hotel and more. Enrolment required*
c Earn a full 1% cash back on all other purchases*

Intro Annual Balance Credit

Intro Period Regular APR
APR Fee Transfer Needed
7 months on 12.99% - 21.99%*
0%* None No Good
Purchases* (Variable)

 
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According to me Student credit cards are, simply put, credit cards intended to benefit students
in high school and college. If I am a student and looking for a reliable credit card option,
student credit cards should definitely be on list of considerations to make. Some student
credit cards even offer special benefits for students depending on what company is offering
the card, so make sure to weigh your options in order to best benefit from what credit cards
designed specifically for students have to offer. From the first day that you go to school,
having student credit cards at your disposal is a smart way to go. From the first day that you
go to school, you will notice that there are many opportunities out there for acquiring student
credit cards. It is important that you prevent yourself from becoming wide eyed and naïve
when it comes to signing up for student credit cards because not all are everything that they
are cracked up to be.

College students need money, and many of the credit card companies are taking advantage of
this necessity by developing student credit cards, which are credit cards that are designed
specifically to suit students in college and in high school. These student credit cards generally
have high interest rate, monthly and yearly fees and other charges that students will have to
contend with over time. In order to get what you want when it comes to student credit cards,
you need to first know what you want before you ever apply for a student credit card. If you
do not know what you want when it comes to student credit cards, you may end up
dissatisfied with what you end up with. The truth is, credit card companies make a
commission off of you rather than necessarily having your best interest in mind. Someone has
to have your best interest in mind when it comes to applying for student credit cards, and
that's you.

When choosing student credit cards, make sure that you look at the inside and outside of
every card you consider. Research each of the student credit cards that you are considering,
looking at how it may possibly benefit you. What are you going to get out of each of the
student credit cards that you are considering applying for? Which student credit cards look
beneficial to you and which look like they will hurt you in the end? Look for the major logo
on each of the student credit cards you consider as well, because there are a wide variety of
different major logos out there, and not all are as beneficial as others.

When it comes to student credit cards, it is always best to research first rather than simply applying before you
read the fine print. No two student credit cards are alike, so make sure that you get the one that is best tailored
for your special needs.

http://www.credila.com/

http://www.hindustanlink.com/careertex/educational-loans-india.htm

http://www.customercreditcards.com/student-credit-cards.

http://lcsource.org/the-things-you-should-know-about-student-loans/#more-82