IRR Loan – Bank Reducing interest with increasing principal. Popular for housing, vehicle, property loan and general purpose.
Balloon Loan – Popular for business loan where interest is recovered at regular interval and finally full principal.
Overdraft Loan – This loan’s interest is calculated as per disbursement that is on monthly outstanding.
Bill Discounting – Distributor gets paid by financier for the invoices raised for the dealer. If dealer pays on time then he will get cashback points as well.
DSA Loan – Disbursement by financier and Collection by Direct Selling Agent ( DSA)
RSP Loan – Shared financing where collection will be distributed under revenue sharing partnership (RSP)
Jumping Interest – This Loan is Popular for Gold Loan where rate of interest jumps on higher side and get locks if repayment is delayed.
Runtime Interest – Interest is calculated on daily basis till maturity date. Excess repayment is adjusted towards principal.
Group Loan –
This loan is popular in self help group (SHG). Joint liability group (JLG). This is used mostly to empower women’s capabilities in rural areas.
Daily Diary Loan – This Loan is Popular for emergency loan, where interest is deducted upfront and daily repayment is recovered in 100 days.
Education Loan -This Loan is locked for maximum 2 years after locking period entire amount is recovered with interest. IRR is designed after locking period.
Payday Loan – This Loan is given to salaried people and full payment recovered on salary day. It is similar to early salary.
Runtime Interest accrual – This loan interest is calculated on daily basis with monthly accrual feature. The monthly accrual is done automatically and borrower also can see the same view of the interest.
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