Confused Between Loan Types? We’ve Got You.
Every financial situation is different. That’s why there isn’t a one-size-fits-all loan. Whether you’re planning a wedding, launching a business, or managing a medical emergency — there’s a right loan for every need.
Here’s a quick guide to help you find the perfect loan match for your situation — powered by Vizzve Finance.
Compare: Loan Types at a Glance
| Loan Type | Best For | Amount Range | Documents Needed | Approval Speed |
|---|---|---|---|---|
| Personal Loan | Marriage, Travel, Home Repair | ₹10,000 – ₹5L+ | Aadhaar, PAN, Bank Statement | 30–60 mins |
| Business Loan | Startups, Expansion, Inventory | ₹50,000 – ₹25L | Business Proof, KYC, ITR | 1–2 days |
| Education Loan | Tuition, Coaching, Exams | ₹25,000 – ₹15L | KYC, Admission Proof, Co-applicant (optional) | 1–3 days |
| Emergency Loan | Medical, Rent, School Fees | ₹2,000 – ₹1L | Basic KYC, Bank Statement | 10–30 mins |
| Gold Loan | Quick Cash with Gold | Based on gold value | Gold, ID Proof | 30–60 mins |
| Vehicle Loan | Buy a car, bike, or EV | ₹25,000 – ₹10L+ | KYC, Salary Slip/Income Proof | 1–2 days |
How to Choose the Right Loan?
1. Define the Purpose
Ask yourself:
Is it a planned expense or an emergency?
Is it a short-term or long-term need?
👉 Planned travel = Personal loan
👉 Medical urgency = Instant loan or micro-loan
2. Check Loan Amount Needed
For small gaps (₹5K–₹50K): Emergency or Instant Loan
For larger projects (₹1L+): Business or Education Loan
3. Consider Your Documentation
If you lack salary slips or ITR:
✅ Vizzve offers loans without salary slips for gig workers, freelancers, and part-timers using UPI and bank data.
4. Look at Repayment Flexibility
Some loans allow:
Part-payments
Top-up options
Tenure changes
💡 Vizzve helps you choose lenders that offer flexible EMI plans.
Example Scenarios
Neha – Coaching Fees, ₹40,000
Opted for a short-term Education Loan via Vizzve
→ Got ₹40,000 within 1 day, EMIs split over 6 months
Arjun – Needed Bike for Delivery Job
Used Vizzve to apply for a 2-wheeler loan
→ Got ₹65,000 loan with 12-month EMI, no collateral needed
Priya – ₹12,000 Emergency for Medical Test
Applied for a micro-loan at 10:30 PM
→ ₹12K disbursed within 20 minutes
FAQs
Q1. Can I take more than one loan at a time?
Yes, as long as your repayment capacity supports it. Vizzve checks eligibility with multiple lenders.
Q2. Which loan is best if I don’t have income proof?
Emergency or instant loans using bank activity/UPI transactions instead of salary slips.
Q3. Can I prepay the loan early?
Yes, most Vizzve partner NBFCs allow part-payment or foreclosure with minimal charges.
Q4. What is the fastest loan option?
Vizzve’s micro-loan or emergency loan products can be disbursed in 15–30 minutes.
Q5. Are interest rates the same for all loans?
No. Personal and emergency loans are usually higher than education or vehicle loans. Vizzve helps you compare offers.
Ready to Pick Your Loan?
Whether you need funds fast or want structured finance for your goals, Vizzve Finance has options that fit your profile.
👉 [Apply Now – www.vizzve.com]
Published on : 23rd July
Published by : SMITA
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed