Megha has taken a loan of Rs 25 Lakh from the bank to purchase a house.The annual interest rate on the loan is 12% and the loan is to be repaid in 10 Years in monthly installment. Megha has kept her new house paper as collateral.
Analyse the loan information given above,considering one of the following correct option
(a.) Mode of repayment
(b.) Terms of credit
(c.) Interest on loan
(d.) Deposit criteria
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Answer:
terms of credit
Explanation:
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