Question

What are the main terms of Credits?

Points required no explanation!

Answer 1

1 Interest rate- The borrower has to pay a sum of money as interest along with the prinicipal amout.

2.Collateral- It is an asset that the borrower owns and uses this as aguarentee to the lender until the loan is repaid.

3. Documentation- Proper documents of borrowing with all the terms and conditions must be submitted.

4. Mode of repayment - The mode through which the borrower will repay the loan must be clearly mentioned.

Thanks ☺️☺️

Answer 2

Heya mate here is your answer

T̳h̳e̳ m̳a̳i̳n̳ t̳e̳r̳m̳s̳ o̳f̳ C̳r̳e̳d̳i̳t̳s̳ a̳r̳e̳

✔️C̳o̳l̳l̳a̳t̳e̳r̳a̳l̳

✔️M̳o̳d̳e̳ o̳f̳ r̳e̳p̳a̳y̳m̳e̳n̳t̳

✔️I̳n̳t̳e̳r̳e̳s̳t̳ r̳a̳t̳e̳

✔️D̳o̳c̳u̳m̳e̳n̳t̳a̳t̳i̳o̳n̳

H̳O̳P̳E̳ I̳T̳ H̳E̳L̳P̳S̳!!