Mortgage loan is a type of secured loan where you can avail funds by providing your asset as collateral to the lender. A mortgage is usually a loan sanctioned against an immovable asset like a house or a commercial property. The lender keeps the asset as collateral until the borrower repays the total loan amount.

The most popular type of home loan is the loan for purchase of a new or a pre-owned home. This loan is also commonly available and is offered by many banks in different variants. The interest rate is either floating or fixed.

This loan is specially designed for people who want to construct a place according to their wishes rather than buying a pre-constructed house. The approval process for this type of loan is different for it takes into account the cost of plot also. The loan amount is decided based on actual estimate of the construction cost. The amount will be disbursed in multiple instalments.

Renovation and repair works like external and internal repair, painting, construction of overhead water tank and electrical renovation certainly will make your house look better. But if you lack the finances for repair and renovation, banks like Union Bank of India, ICICI Bank and Bank of Baroda offer specialized home improvement loans.

This option can be availed when an individual wants to transfer his home loan from one bank to another bank owing to reasons like lower interest rates or better services offered by the other bank.

NRI Home Loan allows many NRIs (Non Resident Indians) to get home loans when investing in properties. Financially, it makes sense to purchase a property through home loan rather than through personal financing especially when you can invest your personal funds somewhere else for better returns.

Education loan is a sum of money borrowed to finance post-secondary education/ higher education in domestic or International related expenses. Education loans are intended to cover the cost of tuition, books and supplies, and living expenses while the borrower is in the process of pursuing a degree

Specially designed to support non-resident Indians in buying a residential property in India, the formalities and application procedure for this type of loan is different from the others. Generally, most of the private and public sector banks offer NRI loans as a product of their housing loan portfolio.