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A loan is a form of debt incurred by an individual or other entity. The lender—usually a corporation, financial institution, or government—advances a sum of money to the borrower. In return, the borrower agrees to a certain set of terms including any finance charges, interest, repayment date, and other conditions. Personal Loan Home Loan Business Loan Loan Against Property (LAP) Used Vehicle Loan MSME Loan Micro Loan