1. Ideally EMIs or loan repayment should form what percent of your income

2. What is the advantage of offering a collateral when taking loan?

3. What does the Credit score indicate?

4. Which of the following is used to determine your ability to payback the loan?

5. Which of the following factors is NOT considered while deciding the rate at which the loan is offered?

Factors that impact rate and amount of your loans & borrowing

loans and borrowing

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  • Level - 6,3,8,6 BASIC

Borrowers need to convince lenders about their ability and willingness to repay on the basis of collateral, income statements or credit scores. Watch this video to learn about the factors that influence amounts and rates for formal loans.

AUTHOR(s):Uma Shashikant

Tags

financial planning

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