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Loans and Loan Categories

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Questions and Answers

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?

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?

Gold Loan

Unsecured Loan (correct)

Car Loan

Home Loan

What is the basis for giving an unsecured loan?

CIBIL score and personal track records Signup and view all the answers

Which of the following is an example of a secured loan?

Home Loan Signup and view all the answers

What is the primary financial product of a bank or NBFC?

Loans Signup and view all the answers

How can loans be broadly categorised?

Secured and unsecured Signup and view all the answers

Loans and Loan Categories

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Podcast

Questions and Answers

What is the primary condition for lending and borrowing of money in a loan?

What are the three components of a loan?

What type of loan does not require the borrower to pledge any asset as collateral?

What is the basis for giving an unsecured loan?

Which of the following is an example of a secured loan?

What is the primary financial product of a bank or NBFC?

How can loans be broadly categorised?

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