Ajay has taken an educational loan of Rs 10 lakhs from the bank. The annual interest on the loan is 15.2 percent. This loan is to be repaid in five years in monthly installments. The bank retained the papers of his house as collateral, which will be returned to him only when he repays the loan with interest. Analyse and consider:
(a) Deposit criteria
(b) Interest on loan
(c) Mode of repayment
(d) Terms of credit
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hey mate
may be it's C mode of repayment
Explanation:
- i hope it helps u
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