Question

what is loan? explain different ways of loan of money and describe about axis bank

Answer 1

Loan means credit or money which a person takes from bank or from any other resources with the promise to pay the money back either with interest or the same amount.

Different ways of loan of money:

1.By banks i.e.Formal sector

2.Informal sectors like taking loan from money lenders,traders,relatives,friends..etc.

Axis Banks

Banks owned Privately and not by government are termed as Axis Banks.

These banks also works same as The State Banks of India,provides credit with low interest and also keep people's money as deposits and returns them whenever they comes for withdrawl.

Hope it helps u!!!