BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following NBFCs provides finance to the public whether by making loans or advances?
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Asset Finance Company
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Investment Company
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Loan Companies
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Infrastructure Finance Company
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Explanation:
Detailed explanation-1: -Loan Companies (LC): Loan Companies provide finance to the public, whether by making loans or advances. It does not include an equipment leasing company or a hire-purchase, Asset Finance company.
Detailed explanation-2: -NBFCs usually offer personal loans from 10.49% p.a. onwards for loan amounts of up to Rs 35 lakh and for tenures of up to 5 years. Many NBFCs also offer pre-approved instant personal loans to select customers. Apply Now!
Detailed explanation-3: -Yes, NBFCs can provide unsecured loans in the form of overdraft, cash credit, and bill discounting. The minimum amount for the loan will be higher than that of nationalized banks.
There is 1 question to complete.