When you write a loan application to a bank, you should be aware of the types of loans available. Understanding these can help you select the right one for your needs
1. Personal Loans: These are unsecured loans for various purposes like home improvements or medical expenses.
2. Home Loans: These are for purchasing or refinancing property.
3. Auto Loans: These are specifically for buying vehicles.
4. Business Loans: These are used for expanding or starting a business.
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