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Car loan is designed for the purchase of either a new or use vehicle. Car loan can also be used for vehicle repair and maintenance.
Personal loan is meant to meet borrower’s personal needs. Personal loan can be used for example, vacation, Wedding, funeral etc.
Business loan is specifically intended for business purpose. Either to Start a business or to expand an existing business
Student loan is basically for educational purpose. Student loan can be used to finance tuition fee, accommodation, living cost, etc.
Home loan also known as Mortgage is designed for the purchase of a house property / real estate. Home loan can also be used for renovation
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