1. Business and Consumer Loans ✿

Question 1

Availed by a business or company for it’s expenses.

Answer 1

Business Loan

Question 2

Loan for “personal use”

Answer 2

Consumer Loan

Question 3

The _____ for business loans are commonly shorter, and have a higher interest rate.

Answer 3

Term

Question 4

This is the asset presented by the borrower that is pledged to be given to the lender in case the borrower fails to pay.

Answer 4

Collateral

Question 5

This is the individual who agrees to pay back the loan if the borrower fails to pay.

Answer 5

Guarantor

Question 6

This availed by the TOP 1000 corporations whose purpose is to finance their projects or expand their business

Answer 6

Corporate Loan

Question 7

Availed by commercial businesses that are not as big as the top 1000.

Answer 7

Commercial Loans

Question 8

Availed by entrepreneurs

Answer 8

SMEs or SME Loan

Question 9

SME stands for?

Answer 9

Small, medium enterprises

Question 10

Unbanked means?

Answer 10

People who have NO bank account

Question 11

Underbanked means?

Answer 11

People who HAVE a bank account, but DON’T maximize the use.

Question 12

Most common loan; all banks offer this.

Answer 12

Housing/Mortgage loan

Question 13

Its purpose is to finance a brand new or second hand car

Answer 13

Car/Auto loan

Question 14

Offered to employed individuals; the collateral is their employment contract.

Answer 14

Salary/Personal loan

Question 15

Credit facility that is offered to qualified individuals/corporations.

Answer 15

Credit Card

Question 16

TERM FOR HOUSING LOAN

Answer 16

10-30 Years

Question 17

TERM FOR CAR LOANS

Answer 17

3-5 Years

Question 18

TERM FOR PERSONAL LOANS

Answer 18

1-3 Years

Question 19

ATM Stands for?

Answer 19

Automated Teller Machine