This Blog is Based on Meaning of Loan – Bank | FAQ LOAN.
This Blog is based on the following loan term: Debit Card, Adhar Card Loan, Meaning of Banking, Education Loan, Gold Loan, Property loan, Mortgage loan, EMI, & CIBIL score of Credit Card.
If you have any Query related to Bank loans: Read the Blog Loan Details
Types of Debit Card – FAQ Loan
These are the 6 Commonly used Debit Cards offered by the different Bank in India:
- Visa Debit Cards
- RuPay Debit cards
- MasterCard Debit Cards
- Visa Electron Debit Cards
- Maestro Debit Cards
- Contactless Debit Cards
What is Aadhar Card Loan?
An Aadhaar card loan is a type of unsecured financing option that banks offer. With minimal documentation and e-KYC as compared to conventional bank loans and submitting Salary statements and Address Proof, you will get a loan.
What is the meaning of Banking in Finance?
Banking is a sector that handles cash, credit, and other financial transactions in Finance Industry. Banks provide a safe place to store extra cash and credit needed for the individual and business to invest in the future. Banking is one of the main industries to the economy’s growth of the country.
What is an Education Loan?
FAQ Loan – An education loan is a loan that students can get to meet the expense of Secondary Education or Higher education. Typically, Education loans help the student to cover the cost of their Books, Tuition Fees, Hostel Fees when they are studying for higher education.
What is the full form of EMI?
EMI is a fixed amount of money that a Loan Receiver pays to a moneylender on a certain date of each month with the interest rate for a certain period of time.
What is the CIBIL Credit Score?
CIBIL score is a 3 digit numeric summary of the consumer credit history that reflects the consumer credit profile. From 300 to 900, if your CIBIL score is close to 900, the credit card or loan application is more likely to be approved fast.
Impact of CIBIL Credit Score
Here are the Major Factors That Affect Your CIBIL Credit Score:
- Irresponsible Payment Behaviour
- Paying only the Minimum Amount Due
- High Credit Utilisation Ratio
- Making Multiple Credit Applications
- Length of the Credit History
- Not Having a Credit Mix and Error in CIBIL Report
What is Gold Loan?
Gold Loan is also known as a Loan Against Gold. It is a secured loan which borrower takes from a lender in loan of gold ornaments such as gold jewelry, Bangles (within a range of 18-24 carat). After Personal Loan, Gold Loan is the best and easiest way to fulfill the Financial Need.
What is a Property loan?
A Property Loan (Loan against Property) is a secured loan obtained against a residential or commercial Property held as parallel by the lender. The loan amount comes to the borrower without restriction, so, recipients can use them for different purposes.
What is a mortgage loan?
A Mortgage Loan is used to buy or maintain a house, land, or other types of real estate. The Borrower agrees to pay the payer over time, usually in a series of regular payments divided into principal and interest. The property acts as collateral to secure the Loan.
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Content Reference : RBI Website RBI bank