Social Sciences, asked by angal2184, 10 months ago

Distinguish between formal and informal sector of loan

Answers

Answered by Anonymous
0

Answer:

Hey...

• Formal sector loan is given by commercial bank whereas informal sector loan is given by money lenders, big merchants, etc.

• Formal sector loan required collateral where as informal sector loans does not require collateral.

• Formal sector loans has a low rate of interest where as informal sector loans has a very high rate of interest.

Hope this would help you.

Mark it as brainliest if you like.

v

Answered by Anonymous
2

Answer:

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✔️✔️

Formal sector loan is given by commercial bank whereas informal sector loan is given by money lenders, big merchants, etc. ✔️

Formal sector loans has a low rate of interest where as informal sector loans has a very high rate of interest.✔️

[I hope help ✔️❤️✌️

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