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प्रश्न
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A House Loan Megha has taken a loan of 75 lakhs from the bank to purchase a house. The annual interest rate on the loan is 12 percent and the loan is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank, documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest. |
- From which source of credit Megha has taken loan?
- Explain the terms of credit given in the source.
उत्तर
- Megha has taken housing loan from the bank.
- Terms of credit are the requirements needed to be satisfied for any credit arrangements. It includes interest rate, collateral documentation and mode of repayment. Interest rate here is 12 percent.
Collateral documentation: Employment records and salary account documents required.
Mode of Repayment: 10 years in monthly instalments.
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संबंधित प्रश्न
Farmers usually take crop loans at the beginning of the season and repay the loan after ______.
Interest rate, security and documentation requirement, and the mode of repayment together comprise what is called the ______.
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 ______.
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.
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?
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.
