BANK LOAN
The loan means money is transfer from one party to another party with agreement with it pay back.The borrower is required payback money with interest rate.The money sander to borrower is called money lender.The lender is a induvisal person,Bank,NBFC.
The loan agreement is between money lender and money borrower.The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent.
Acting as a provider of loans is one of the main activities of financial institutions such as banks and credit card companies. For other institutions, issuing of debt contracts such as bonds is a typical source of funding.
THERE ARE MANY TYPE OF LOAN
(1) PERSONAL LOAN
(2) AUTO LOAN
(3) AGRICULTURAL LOAN
(4) LOAN AGAINST FD
(5) CREDIT CARD LOAN
(6) CONSUMER DURABLE LOAN
(7) HOME LOAN
(8) EDUCATION LOAN
(9) BUSINESS LOAN
(10) GOLD LOAN
(11) PAYDAY LOAN
(12) FAMILY LOAN
(13) CASH ADVANCE LOAN
(14) OVERDRAFT
(15) HOME EQUITY LOAN
(16) HOME RENOVATION LOAN
(17) LOAN AGAINST ASSET
(18) TRAVEL LOAN
(19) SECURED LOAN
(20) DEBT CONSOLIDATION