This post is about how to create posts about loans usefully. What is loan?, Why loan?, Who gives loan?, Types of loan?....etc should answered when our post is completed.
What is loan?
Loan is a type of debt. In a loan a borrower get money from lender and that money is to be payback with some interest. Banks are who gives loans to us. As possible we should avoid taking loans. Because loan affects the normal life of a human. So take loans when it becomes necessary.
Sometimes on the basis how much money is taken as loan, the lender ask a asset as security.
Why loan?
Why we think about taking loans? Is it necessary?
Are you in trouble financially, then you can think about loan. But you must investigate about company, from where loan is borrowing. Otherwise you cant escape from their hands and you should be paying they life time.
Who gives loans?
Banks.
Credit card is similar to loans. First we uses credit card to purchase something and credit company gives us a time to payback the money.
Types of loans?
Loans are in different types. They are secured,unsecured,demand and subsidized loans.
Secured loans are loans in which borrower gives some asset to lender as loan guarantee.
Unsecured loans which with no need of guarantees like credit cards, bank overdrafts etc.
Demand loans are which do not have any fixed dates for repayment.
Subsidized loans is a loan which gives a subsidy to the interest of the loan. For example, student loans.
