Question

What are the terms of credit?

Answer 1

hey friend here is your answer!!☺️☺️☺️

there are 4 terms of credit . the 4 terms of credit are:-

1. Collateral - It is some amount of asset given to the lender or bank as a security against credit.


2. Documentation - this is the information about the person who wanna borrow.



3. Mode of repayment - this is the mode by which borrower will repay the money to lender




4. Interest rate - the final amount which is calculated according to the rate of interest . the borrower have to give principal + interest.




☺️☺️☺️hope it helps☺️☺️☺️

Answer 2

✨✔️✔️ Question : What are the terms of credit?

✔️✔️Answer:
Terms of credit are :-
• Interest rate.
• Collateral.
• Documentation requirement.
• Mode of repayment.

✨✔️✔️HOPE IT HELPS YOU...
✌❤✌