Explain the value which a borrower should observe for the proper use of loan taken
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hay everybody here is your answer,Maintaining a balance in your savings bank account and not issuing cheques without sufficient money in your current account are as important as repaying your loan on time.
These are some of the things a bank will check before approving a loan application, especially if you have no borrowing history.
For a first-time borrower, banks will check the transactions in savings bank accounts if he is a salaried person, or the current account if he is self-employed or has a small business, says Mahesh Dayani, country head, retail assets, ING Vysya Bank.
These are some of the things a bank will check before approving a loan application, especially if you have no borrowing history.
For a first-time borrower, banks will check the transactions in savings bank accounts if he is a salaried person, or the current account if he is self-employed or has a small business, says Mahesh Dayani, country head, retail assets, ING Vysya Bank.
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Investing and savings are key value the borrower should be very observant with for the proper usage and payment of the loan. When the borrower chooses to invest his money wisely and to save his profits promptly then the threat of failing to pay back thew loan will be minimal since savings are the key value to a sustainable economic development.
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