Loan can be a property, money or any other material goods that is given to another party for an exchange to pay the future payments of the loan amount as well as the principal amount including the finance as well as the interest charges. Loans permit growth in overall supply of money in the economy by opening up competitions by offering funds to new businesses.
When you take a financial help or borrow money during the time of need, either from any bank or a financial institution or family or friends, it is termed as ‘loan’. Loan can be taken from any financial institution such as Banks, NBFCs for a particular tenure for fulfilling your personal financial needs. There are different types of loans that are available for catering to your various financial needs such as a home loan, car loan, personal loan, education loan, business loan, etc. You may apply for a Loan in case you need urgent financial need. These financial emergencies can be; medical emergencies, education financial needs, money required for wedding, to initiate a business or for renovating or buying a home. Simply put, loans aid in any monetary assistance in emergency.
If IDV concept is not clear to you, Read more about what is idv in insurance, its importance and how you can calculate idv for car insurance.
Bike Insurance - Not having a bike insurance policy can lead to many consequences especially after an accident, learn more about the consequences of not buying bike insurance
Life Insurance is also one such subject that keep people engaged enough to ask a plethora of questions.Here are 6 Questions to Ask Before You Buy a Life Insurance Policy.
Life insurance riders are add-ons that offer an extra touch of benefit over your basic policy and also act as waivers of premium. Learn more about Life insurance riders here.
Read about 4 common life insurance myths in india to discover the facts and secure your family's financial future with the best life insurance policy.
Life insurance plan is purchased to insure your life. Know the important features of life insurance you should be aware of.