mention four features of informal sources of credit.
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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.
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.
Answered by
35
Answer:
Hey
Explanation:
Solution :-
The four features of informal sources of credit are
- They give loan without any collateral.
- They give more time to repay.
- They generally charge higher rates of interest and exploit the borrowers for their own benefits.
- They charge very high rate of interest.
- No other organisation's have control on them.
Some informal sources of credit are
As follows
- Moneylenders
- Friends and relatives
- Landlords
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