1. Personal Loans:
These are unsecured loans that individuals can use for various personal expenses, such as medical bills, education, debt consolidation, or any other unforeseen expenses. Since they are unsecured, they typically have higher interest rates.
2. Home Loans (Mortgages)
Home loans are used to finance the purchase of a home. They are secured by the property being purchased, and failure to repay can result in foreclosure. Home loans may have fixed or adjustable interest rates.