Mr. Dias wants to take a loan from the bank, he finds that different rates of interest are offered by the commercial banks. How is the interest rate on loans determined by these banks?
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Bank provide different rate of interest on loan, housing loan, car loan, education loan, health loan etc. which provided by the bank on the basis of the profits they earn from such loan. The I.O.L is determined by the banks, on monthy, quarterly, half, and p. a basis on the rate provided by them.
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