Although both these loans help you fulfil your long admired dreams, both differ in terms of nature. The former helps you to build a heaven for you and your family while the latter helps you fulfil your everyday desires. Being the best private wealth management, we believe that a man is nothing without dreams and our support helps you to live those dreams in reality.

But, they are both loans, so what is the difference right?

Home Loans are specifically introduced in order to ease your burden in terms of arranging funds for your dream house and is a home builder’s go to. These types of loans cannot be used for any other purposes but homes only, whereas Personal loans are the type of loans introduced to help you meet your daily desires which can be used for any purpose. For example- you can use a personal loan to meet the expense of a royal vacation or medical expenses etc.

Keeping in mind, a home is a necessity and not a luxury, ROI of home loans is cheaper as compared to the ROI of Personal Loans. 

Current ROI’s- 

Home loans- range between 8-9%, depending on the branch.

Personal loans- ranges between 10-11%, depending on the branch

In the case of home loans, the collateral is demanded as security for the amount is usually huge whereas no collateral is required in case of personal loans. 

For the amount in the case of home loans is huge, hence more time is awarded for its fulfilment, making it easier for you, coming under long-term loan category. On the other hand, the amount involved in personal loans is less, hence can be recovered in a shorter duration coming under the short-term loan category.

Although both help you fulfil your wishes, both functions differently in your favor.  We at Raksha Group aim to provide you the best Wealth Management Services, so that next time when you think of doing something, your wallet weight doesn’t stop you!