Personal loan glossary

A loan that is taken after mortgaging any valuable property/asset.

A loan that is given without any mortgage of valuable property/asset.

The length of time a loan is repaid over, usually specified in months. So, [...]

The small print on any loan agreement contains vital information that all borrowers should take time to read and understand [...]

Charges like stamp duty, sales tax, etc., that are imposed by the government.

Instructions given to a bank to debit a fixed amount from your account to pay a financial institution.

Duty levied by a state government on certain legal documents and financial contracts.

Chance or danger of loss of capital and/or interest in a financial transaction.

Profits made in a financial transaction.

The person in whose name the underlying asset is registered.