Do you know which type of loan would suit you?

Mortgages: Banks provide funds to consumers who want to buy homes but cannot afford to pay the whole amount upfront. While mortgages charge lower interest rates than other loans, they can also foreclose on your property if you fail to meet your payment schedule.

Auto loans: Auto loans are linked to your property i.e. your vehicle, just as mortgages are. So if you miss a payment, you lose your car. Auto loans are granted by both banks and car dealerships directly, but the latter, while being more convenient, also charges higher interest rates than banks.

Check out these different types of loans before deciding on the one you want to apply for.

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