Advertisements
Advertisements
प्रश्न
Explain the following term/concept:
Loans
उत्तर
1) Loan is an arrangement by which the bank advances an amount against securities like shares and debentures, government bonds insurance policies or valuables like gold ornaments, jewelers, etc. This amount is either paid in one sum or is credited to a separate loan account in the name of the customer. It is granted for a fixed period. Interest is payable on the entire amount sanctioned irrespective of the amount actually withdrawn by the borrower.
2) Short term loans are provided for the period of not more than 1 year. It is required by businessman to meet the need of working capital. Bank charges interest at the rate higher than is charged on overdraft. Medium term loans are provided for a period from 1 year up to 5 years. Interest charged on this type of loan is higher than interest rate charges on short term loan. Long term loans are provided by the bank for the period more than 5 years. It is given for growth and development of the business. Interest charged on the long term loans is higher than that is charged on Medium term loans.
APPEARS IN
संबंधित प्रश्न
Write a word or a term or a phase which can substitute the following statement:
A slip used for depositing cash and cheque in the Bank account.
Write a word or a term or a phase which can substitute the following statement:
Permission to withdraw excess amount from Current Account.
Select the correct answer from the options given below and rewrite the statement.
A company usually opens _____________ account in a bank.
Select the correct answer from the options given below and rewrite the statement.
__________ is used for depositing cash into a bank account.
State whether the following statement is true or false :
Joint Stock Company opens Current Account.
State whether the following statement is true or false :
Bank correspondence should be brief and to the point.
Find the odd one:
Complete the sentence:
A financial institution which receives deposits and lends money is called as __________
Complete the sentence:
Overdraft facility is given to __________.
Select the correct option from below
| Group ‘A’ | Group ‘B’ |
| Overdraft | __________ |
Answer in one sentence:
Which facility is given to Current Account holder?
Answer in one sentence:
What do you mean by stop payment of cheque?
Attempt the following:
Write a letter to the bank to stop payment of cheque.
Attempt the following:
Write a letter requesting the bank for granting overdraft facility
Attempt the following:
Write a letter to bank for opening a current account
Distinguish between the following:
Current account and saving account:
Explain the following term/concept:
Current deposits
Choose the Correct Answer.
The Local Area Banks are promoting ______
