A loan is money lent by one or more individuals, organisations etc. You can borrow money from the bank or other bodies if you need money to start or buy something. The borrowed funds can be paid in instalments, but you have to pay some interest. The interest rates vary according to the community, debt amount, loan type, etc. Several market types are known, including used tractor loans, personal loans, home loans, car loans, gold loans, and education loans. So, here we are with 2 types of loans.
Personal Loan V/S Used Tractor Loan
A personal loan can be borrowed for private use. And it needs a confirmation of returns. You can take a personal loan easily in just 4 steps with the help of Tractor Junction. The four steps are:
- Fill in personal details.
- Select the personal loan amount
- Select bank account
- Get money in your account
Used Tractor Loan
Used Tractor Loan can be borrowed from the bank on your used tractor. You do not have to mortgage your tractor to the bank. The thing you have to do is mortgage your tractor’s registration certificate. You can get a used tractor loan with the help of Tractor Junction in easy steps. The interest rate of used tractor loans is 9% to 22% / annum.
For more information regarding loans or loan types, Visit us.