Topic 02

Choose & use a loan

Compare loan types, permitted uses, collateral and the real cost of borrowing.

Choose & use a loan

Which type of loan do you need?

Home, car, education, personal or business loan? Compare what each funds, what you pledge and how repayments work.

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Choose & use a loan

What can you spend a loan on?

Can a home loan pay for furniture? Can a personal loan fund investments? Learn where the product terms draw the line.

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Choose & use a loan

Secured or unsecured: what are you putting at risk?

Compare the payment, total cost and collateral risk. A ₹5 lakh example shows why a lower rate can still cost more.

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Choose & use a loan

The cheaper loan may have the higher rate

Put two written offers side by side: net money received, APR, fees and repayments. Includes a ₹2 lakh fee comparison.

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Educational guidance, not a personal recommendation. Primary sources are linked. Articles are prepared with AI assistance. How we prepare and maintain guides.