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Bank loans are an excellent source of finance for short-term and long-term credit needs. Borrowers typically qualify for bank loans on the basis of their creditworthiness. Most lenders fix interest rates on the basis of the borrower's credit rating. A higher credit rating is demonstrative of a borrower's sound financial standing, which enables lock-in at a lower interest rate.

Note : Please also see our extensive mortgage section.

Types of Loans

The scope and coverage of bank loans vary from lender to lender. Most lenders have strict terms governing the loan proceeds. Depending on need, borrowers can consider the following dedicated loans :

Business Loans

These loans may be long-term for funding asset procurement or short-term for financing working capital requirements. Startup entrepreneurs may be required to offer collateral. Moreover, borrowers are asked to present a business plan to become eligible for such loans.

Student Loans

These loans are intended for funding higher education in the absence of scholarships and grants. Initially, student loans only covered tuition. Currently, education loans cover other expenses pertinent to a college education, including accommodation, books and supplies. Student loans in the US are offered by private financial institutions, as well as the US federal government. The latter accompanies lower interest rates and flexible repayment terms.

Home Loans

These are long-term loans, with repayment periods as high as 30 years. The interest rate on such loans may be fixed or adjustable, varying according to the financial market. A borrower may also opt for balloon rate home loans, where interest rates are very low for 7-10 years of the loan duration, after which they have to repay the entire loan balance at once.

Car Loans

These loans may be acquired to purchase new or used cars. The average payment duration on a car loan is usually five years. Most car loans are unsecured, since the vehicle itself is put up as collateral and may be repossessed should the borrower fail to meet loan payments.

Finally, one may consider applying for a cash loan, if they do not fit into the following categories. However, note that cash loans have extremely high interest rates and must only be used as a last resort to fund short-term credit needs.

List of Bank Branches for apply personal loans in Ahmedabad

Bank Address Pin Code
Axis Bank Trishul-Opposite, Samrtheshwar Temple, Nr Law Garden, Ellisbridge, Ahmedabad, Gujarat 380006
Bajaj Finserv Unit No.302 To 306, 3rd Floor, "Torquoise Building" Opp : Centre Point, PanchvatiPaanch Rasta, Off C. G. Road 380006
HDFC Bank Near Rajkot Nagrik Bank, Opposite HDFC House, Mithakhali Road, Mithakhali, Navrangpura, Ahmedabad, Gujarat 380009
ICICI Bank Koty Building, Gheekanta Cross Roads, Relief Road, Near BhagwatiKrupa Emporium, Ahmedabad, Gujarat 380001
Indusind Bank Ground Floor, ShantPrabha Height, OppVallabhwadi, Jawaharchowk, Mani Nagar, Ahmedabad, Gujarat 380008
Kotak Upper Level Shop No .32,33 & 34 , Advance Plaza OppSwaminaryan Temple,, Shahibaug , Ahmedabad, Gujarat 380004
Tata Capital 1st Floor, Shanti Arcade,1-Ketan Society, Near B D Patel, Stadium Road, Naranpura, Ahmedabad 380013
Fullerton 1st Floor, Jupiter house, OppRasna Restaurant, Mani Nagar Cross road, Mani Nagar, Ahmedabad 380008

Private Finance Companies available in Ahmedabad.

Private financier are available in Ahmedabad doesn't worry on what history you got, around the credit history or your CIBIL score with a bank. They provide you with instant loan within a short period of time.

In contempt of the fact that these private financier companies help you when you are in the utmost need of money but has its conditions, it comes with a higher interest rates of about 1.7% to 2.5% more than any regular banks.

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