What are the different types of loans?

[IndiaInsurance]

https://img.etimg.com/photo/96472064.cms (https://economictimes.indiatimes.com/wealth/borrow/what-are-the-different-types-of-loans/articleshow/96472064.cms)Auto loans are used to buy cars and are medium-term loans with a moderate rate of interest. In case of a default, the car is taken back to recover dues.

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