These are the most common types of secured loans availed of by borrowers. As the name suggests, home loans are taken for the purchase or construction of a home by the borrower. Here, the home itself acts as a security for the lender. However, while the home is the primary security, the lender may require the borrower to furnish collateral security as well depending upon the borrower’s profile and the valuation of the home. This can either be a fixed deposit or any other asset. Home loans are long-term loans and the loan tenure can range from 10 years to as long as 25 years. They are usually high-ticket loans running into lakhs and also the most affordable ones. The home loan interest rates start anywhere between 7% per annum to 7.5% per annum. The loan needs to be repaid in Equated Monthly Installment (EMIs). The Loan-to-Value (LTV) ratio is usually 80%. It means, the borrower can avail of a loan up to 80% of the property value.