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Questions and Answers
What is the primary condition for lending and borrowing of money in a loan?
What is the primary condition for lending and borrowing of money in a loan?
- The borrower must pledge assets as collateral
- The loan must be paid back with interest (correct)
- The loan must be availed for a minimum of 5 years
- The borrower must have a good CIBIL score
What are the three components of a loan?
What are the three components of a loan?
- Principal, rate of interest, and tenure (correct)
- Principal, rate of interest, and CIBIL score
- Collateral, rate of interest, and CIBIL score
- Principal, collateral, and tenure
What type of loan does not require the borrower to pledge any asset as collateral?
What type of loan does not require the borrower to pledge any asset as collateral?
- Gold Loan
- Unsecured Loan (correct)
- Car Loan
- Home Loan
What is the basis for giving an unsecured loan?
What is the basis for giving an unsecured loan?
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Which of the following is an example of a secured loan?
Which of the following is an example of a secured loan?
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What is the primary financial product of a bank or NBFC?
What is the primary financial product of a bank or NBFC?
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How can loans be broadly categorised?
How can loans be broadly categorised?
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