Question

Which is a better source of loans banks or money lenders why

Answer 1

Hey mate !!! Answer :- It is better to take loans in banks. Beacause:- They lend money at reasonable interests. They will not force us to pay,some time is given. There is also a perfect documentation. Hope this helps :)

Answer 2

Banks are a much more reliable source of loans than money lenders.

Explanation:

• Banks are registered organisations that provide the person with the accurate and better ways of redemption form loans.
• Money lenders in a General sense have a higher interest rate than banks, and often try to become Loan sharks that give Out loans to people in need and then use force in order to get their money back.
• Banks are also much more reliable as banks are a registered Organisation working under the rules formed by the government, and any fault can be reported to Police, However money lenders do not follow such rules and are answerable to no one.  

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