Question

Write the advantages and disadvantages of instalment schemes!
Answer in 100+ words
{Points : 50}

Very much urgent!

Answer 1

Instalment refers to a sum of money paid in small parts in a fixed period of time.

ADVANTAGES
Instalment allows us to spend smart.

You can make unexpected purchases and payments without putting a dent on ur budget.

U can get to track ur finance better.

An instalment saving account can be good if u have trouble holding money aside to build up reserves.

DISADVANTAGES
Your money is tied up.

You're commited to put that much money into the account each month for a certain
time.

Interest is locked into a fixed interest rate with instalment savings.

HOPE IT HELPS

Answer 2

ADVANTAGES...you can make an accepted purchase and payments without putting attend or your budget
you can get to track your finance better
and installment saving account can be good if you have trouble holding money aside to build up Reserves

DISADVANTAGES
your money is tied up
you are committed to put that much money into the account each month for a certain time