Assistant Relationship Officer Interview Questions and Answers

A loan is a sum of money borrowed by an individual or organization that is expected to be paid back with interest.

• Loans can be obtained from banks, credit unions, or other financial institutions.

• There are different types of loans such as personal loans, home loans, car loans, and business loans.

• The borrower is expected to pay back the loan amount along with interest within a specified period of time.

• The interest rate and repayment terms vary depending on the type of loan and ...read more

Types of personal loans include secured, unsecured, fixed-rate, and variable-rate loans.

• Secured personal loans require collateral, such as a car or home

• Unsecured personal loans do not require collateral

• Fixed-rate personal loans have a set interest rate for the life of the loan

• Variable-rate personal loans have an interest rate that can change over time

• Other types of personal loans include debt consolidation loans and payday loans