Question

mention four features of informal sources of credit.

Answer 1

The four features of informal sources of credit are :-
they take less interest on the principal .
they do not need any documentary files .
they do not need any Collateral assets.
they also give sufficient time to repay the cradit.

Answer 2

Answer:

Hey

Explanation:

Solution :-

The four features of informal sources of credit are

1. They give loan without any collateral.
2. They give more time to repay.
3. They generally charge higher rates of interest and exploit the borrowers for their own benefits.
4. They charge very high rate of interest.
5. No other organisation's have control on them.

Some informal sources of credit are

As follows

1. Moneylenders
2. Friends and relatives
3. Landlords