Types of bank loans in Durban
The first step towards getting loan approval is making sure that you understand the different types of loans, and the specific advantages and disadvantages of each one, so that you can decide which loan is right for you. For example, there is a marked difference between a personal loan and a business loan. Where a personal loan requires no collateral, a business loan may only be approved with collateral. Second, where a personal loan has relatively high interest rates, business loan interest rates are generally very low. Do some comparative investigation of the different types of bank loans in Durban, before you apply for your loan.