A business loan is a loan specifically intended for business purposes. As with all
loans, it
involves the creation of a debt, which will be repaid with added interest.
A personal loan is an amount of money you can borrow to use for a variety of purposes. For instance, you may use a personal loan to consolidate debt, pay for home renovations, or plan a dream wedding.
Professional loans are personalised credit offerings for working professionals such
as doctors and
chartered accountants who need funds to expand or start their practice.
MSME Loans also known as Micro, Small, and Medium Enterprise Loans are types of loans
which you can avail if you own a business or is an entrepreneur.