A loan is a form of debt incurred by an individual or other entity. The lender—usually a corporation, financial institution, or government—advances a sum of money to the borrower. In return, the borrower agrees to a certain set of terms including any finance charges, interest, repayment date, and other conditions.
Personal Insurance Care – Awesome Management Associates Sdn Bhd
Insurance Plans
Loan
Whats is a loan?
How does loan work?
Put simply, a personal loan is a sum of money with interest lent by the bank to a borrower for a fixed period. The loan must be paid back in fixed amount installments, every month until the end of tenure.
It is quite straightforward until you come across some terms and jargons that you are not familiar with.
Benefits of Loan
Relatively fast
No restriction on how you can spend the money
Do not require any collateral
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