KURAKULA'S

Financial

How to Choose the Right Loan for You

Credit cards let users borrow for purchases. Repayment with interest is required if overdue. They offer rewards but can lead to debt.

A personal loan is an unsecured loan for various purposes, repaid in fixed monthly installments with interest. It requires a credit check.

Business loans provide capital for expansion, equipment, or cash flow. They can be secured or unsecured, with terms based on eligibility.

Professional loans are for individuals in specific professions to fund their practice. They offer flexible terms and lower interest rates.

Home loans are provided for purchasing or refinancing property, repaid in installments with interest, and secured by the property.

Mortgage loans are long-term loans to finance property, with payments over 15 to 30 years. If unpaid, the lender can seize the property.

A car loan lets you finance a vehicle with monthly payments, and interest rates depend on your credit score and car type.

Commercial vehicle loans help businesses finance vehicles with flexible terms, typically secured by the vehicle purchased.

Machinery loans help businesses finance equipment like tractors or excavators, with flexible repayment terms and the machinery as collateral.

An overdraft allows you to withdraw more money from your bank account than your current balance, up to a set limit, typically with interest and fees.

Cash credit provides businesses with immediate working capital by offering a revolving credit line based on their assets.

A gold loan lets you borrow money by pledging your gold as collateral, offering quick access to funds with low-interest rates.