7 Questions
What is the primary condition for lending and borrowing of money in a loan?
The loan must be paid back with interest
What are the three components of a loan?
Principal, rate of interest, and tenure
What type of loan does not require the borrower to pledge any asset as collateral?
Unsecured Loan
What is the basis for giving an unsecured loan?
CIBIL score and personal track records
Which of the following is an example of a secured loan?
Home Loan
What is the primary financial product of a bank or NBFC?
Loans
How can loans be broadly categorised?
Secured and unsecured
Test your understanding of loans, including the components of a loan and the different categories of loans. Learn about secured and unsecured loans, and how they are classified.
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