the arrangement by which a bank allows his customer to borrow money upto specified limit is called as.
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1
Answer:
LOC is the correct answer
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5
Answer:
LOC(A line of credit)
Explanation:
A LOC is an arrangement between a financial institution—usually a bank—and a client that establishes the maximum loan amount the customer can borrow.limit that can be used at any time. The borrower can take money out as needed until the limit is reached, and as money is repaid, it can be borrowed again in the case of an open line of credit. hope that helps!
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