WHAT IS A LOAN
WHAT IS A LOAN A thing that is borrowed, especially a sum of money that is expected to be paid back with interest. lend (a sum of money or item of property). You can say a loan is a financial instrument in which one party borrows money from another, such as a Mortgage loan, Business loan and Personal Loan. A loan is a debt that an individual or entity incurs. A lender, usually a government, financial institution, or corporation, gives the borrower a sum of money. In return, the borrower agrees to certain terms, including interest, finance charges, repayment date, and other conditions. In finance, a loan is the transfer of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. https://en.wikipedia.org/wiki/Loan According to Forbes, in India and the world at large there are so many types of Loans. In today’s fast growing world, financial needs and goals are constantly