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Personal loan vs Business loan

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amanhere2011608
Personal loan vs Business loan

If get personal loan and business loan offer (axis bank -7L amount). Both are preapproved then which is good?

PS. If Need for personal and not as in business.

Which one is best to choose.

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Deal Cadet Deal Cadet
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Depends on the fineprint.

But to get business loan.. one would have to show some enterprise. (Even pakode stall outside Tihar Chowdhari's office could be acceptable.. but something is required.)

If there is no specific collateral and the rates, terms of business loan are good.. then it might be a notch or two better than to take a personal loan.
Deal Cadet Deal Cadet
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After loan amt credit, the debit Txns from the current a/c will be under watch. If something fishy, Bank will block the account with issuing Notice for explanation. 

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Deal Cadet Deal Cadet
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Depends on the fineprint.

But to get business loan.. one would have to show some enterprise. (Even pakode stall outside Tihar Chowdhari's office could be acceptable.. but something is required.)

If there is no specific collateral and the rates, terms of business loan are good.. then it might be a notch or two better than to take a personal loan.
Deal Cadet Deal Cadet
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Onkly udyam certicate & tht agent said she will manage it..not big thing. 

However, for govt thing, having PL is better or BL? Any idea. 

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Finance Ninja Finance Ninja
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VU+ for the interesting topic, lets see more answers:)

Deal Newbie Deal Newbie
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Vu

Deal Cadet Deal Cadet
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After loan amt credit, the debit Txns from the current a/c will be under watch. If something fishy, Bank will block the account with issuing Notice for explanation. 

Deal Cadet Deal Cadet
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True...bt this BL loan offer is on savings account...money ll get disbursed in savings account.

RBI may track BL & PL differently

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Deal Cadet Deal Cadet
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overdraft take

Deal Cadet Deal Cadet
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SIMPLE

If you are salaried, take a personal loan.

If you are in business, take a business loan.

If you follow this, it will help you in future loans.

Deal Cadet Deal Cadet
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Just avoid loan as much as possible

Finance Ninja Finance Ninja
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Ya true:) but if one can manage how to leverage it positively then one can take loans, but 99% of the people dont know how to do so:) in my opinion


so yes avoid loan as much as possible is the wise choice for common people

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