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प्रश्न
Read the information given below and select the correct option.
Rohan has taken a loan of Rs.5 lakhs from the bank to purchase a house at a 12% rate of interest. He has to submit papers about the new house and salary records to the bank. What is this process called?
विकल्प
Interest Rate
Collateral
Principal Amount
Instalments
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उत्तर
Collateral
Explanation:
Collateral is an asset that the borrower owns (such as land, building, vehicle, livestock, and deposits with banks) and uses this as a guarantee to a lender until the loan is repaid.
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संबंधित प्रश्न
Which one of the following is NOT an informal sector loans for poor rural household in India?
Sometimes lenders demand against loan ______.
Most of the informal lenders charge ______.
The rich households are availing cheap credit from formal lenders whereas the poor households ______.
The difference between what is charged from borrowers and what is paid to depositors is ______.
An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment is called ______.
Why do most of the rural households still remain dependent on the informal sources of credit? Explain.
How do Self Help Groups help borrowers to overcome the problem of lack of collateral? Explain.
Explain, why the banks do not lend credit to certain borrowers.
Assertion (A): Banks are not ready to lend money to certain borrowers.
Reason (R): Some people do not have collateral.
