which source of credit is better and why ?
Answers
Answer:
formal sources
Explanation:
FORMAL SOURCES are among the best sources of credit, especially when it comes to personal loans, student loans, mortgages, personal lines of credit, overdraft protection and credit card
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Answer:
Financial institutions are among the best sources of credit, especially when it comes to personal loans, student loans, mortgages, personal lines of credit, overdraft protection and credit cards.
Explanation:
Formal sources.
Formal sources of credit prefer over informal because final sources comprises of government organizations and collateral security, lower interest rates on its loans like co- operative bank & RBI but Informal sources comprises higher Interest on its loans does not provide collateral security & no organisation to supervise the sector.