Personal loans and the education loans are the two types of loans that are mostly preferred by the Indian subcontinent people owing to the reason that the terms and conditions of both these types of loans are very simple and quite easy to understand. While the personal loans are available in almost every possible loan category, education loans are the ones that in recent times have caught the imagination of the common Indian people. As Indian people give lot of importance to the education aspect of the life, therefore the reason for their sudden popularity is quite obvious. Which is the main reason why private as well as the government recognised loan financier are now fighting it hard to get into the main league. Personal loans are available in both secured and unsecured version. The procedure for applying for both of them is very easy since they do not require very large number of formalities to be fulfilled before getting the loans. You can easily avail the unsecured personal loans, without even pledging any asset as security up to even 15 lacs and that too at quite reasonable rate of interest. While in secured personal loans, the rate of interest is comparatively less and also there is minimum documentation. The only thing here is that the borrower, ie you, will have to pledge your asset as security with the lending authorities. As far as the education loans are concerned, these loans too are available in both secured and unsecured forms. The eligibility criteria for availing these loans are first, he should be an Indian citizen. Second, should have passed previous qualifying exam and other conditions which may vary from authority to authority. A maximum of Rs. 10 lakhs can be availed by the person for studying in India only. However, if you want to study abroad, you can get the loan of around Rs. 20 lakhs. The repayment options of both personal loans are quite flexible which is why now more and more people are coming forward without any hesitation. So both personal loan and education loans these days are providing a very beneficial deal to every loan aspirant. (Above figures are being used for the indicative purpose only. Please refer to the actual terms & conditions of the desired lending authority).