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terms of credit |
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Answer» Interst rate , collateral , are terms of credi The four terms of credit are :1 Interest rate- The borrower has to pay a sum of money as interest along with the prinicipal amout.2.Collateral- It is an asset that the borrower owns and uses this as aguarentee to the lender until the loan is repaid.3. Documentation- Proper documents of borrowing with all the terms and conditions must be submitted.4. Mode of repayment - The mode through which the borrower will repay the loan must be clearly mentioned.\xa0 |
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