Question

What sort of loans are more in your area? (Refer the paragrph from text book under the header ‘Types of Loans’)

Answer 1

Answer:

The common loans  that people go for and are offered  in my area are salary loans.

Explanation:

• This is because in the esatate I come from, majority of the population are the middle class.
• Most of them have got jobs in town which are permanent, this jobs are the factor that makes the salary loans common.
• This is because they earn salaries that act as security for their loan repayment.
• This involves commiting part of your future salries to paying the bank loans.