4
Why are terms and conditions like interest rate, time period,
guarantee, mortgage ete necessary for giving a loan? Explain with an
example for each condition.
Answers
Answered by
3
Explanation:
A loan term is the length of time it will take for a loan to be completely paid off when the borrower is making regular payments. The time it takes to eliminate the debt is a loan’s term. Loans can be short-term or long-term notes.
Answered by
4
Explanation:
when we are taking loan there must be a terms and conditions because when we give money to other person we should know in how much time period they are going to give back so that we can ask them after that time period thats why it is necessary for giving a loan
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