All In One Of Astha Academy Material PDF Book

All In One Of Astha Academy Material PDF Book

All In One Of Astha Academy Material PDF Book:- The dictionary defines a loan as thus, ‘a thing that is borrowed, especially a sum of money that is expected to be paid back with interest’ and rightfully so, our entire civilization is built on the concepts of loaning and paying back. In modern-day India, the middle class has emerged as an average marketer’s dream target, the playground for companies that deal in consumer products and consequently, the numero uno customer for the massively available loans. From homes to education, vehicles to vacations, if there is an expenditure angle involved, then there is a loan for it.

In terms of sheer volume and popularity, the banks have segregated the concept of loaning into various types. There is the personal loan, and as its name so aptly suggests, is an influx of monies that the receiver can use for whatever personal requirement or monetary contingency that he/she might have. Not surprisingly, a home loan and car loan is intended for the purchase of a home and a car respectively, while an education loan helps the borrower cope with the high prices for a competent education these days. In India, almost all private and public sector banks count the aforementioned loan products as a hot commodity in their respective portfolios and competition is ripe to attract a prospective customer’s undivided attention. From varying interest rates to relaxed loan tenures, poaching strategies like the concept of home loan transfer- the shifting of home loan from one lender to another who offers a lower interest rate, to heavy discounts and offers, the string of available loan options are many.

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How can anybody discriminate between these available choices? Explore,

A variant of the saving bank a/c is the recurring deposit or cumulative deposit a/c introduced by banks in recent years. Here, a depositor is required to deposit an amount chosen by him. The rate of interest on the recurring deposit account is higher than as compared to the interest on the saving account. Banks open such accounts for periods ranging from 1 to 10 years. There curing deposit account can be opened by any number of persons, more than one person jointly or severally, by a guardian in the name of a minor and even by a minor.

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