July 10, 2024

There are so many different types of loans out there. But, do you know what type of loan you’ll need? In this discussion, I am going to tell you about 5 different types of loans, you can apply for. Find out more, below.

Personal Loans

instant loan

Personal Loans do what they say on the tin – they’re loans for people to use as they see fit. A personal loan is one that can be used for pretty much anything, as long as it’s legal. Personal loans are also called Instant Payday loans.

Student Loans

Student Loans are specifically for those looking to study at university. They are regulated and approved by the Government, paid directly to you and your university.

Mortgage

A Mortgage is a large loan, specifically for those buying a property. Mortgages are solely for the purchasing of property (and can’t be used for anything else).

Car Loans

Buying a car outright can be expensive, and a popular option is to get finance or use a loan to purchase.

Business Loans

When any business needs financing, no matter their size, they can apply for a Business Loan. Like a mortgage, this is for a specific purpose, and can only be used to fund a business venture or something within an existing or start-up business.

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