Lecture 4 - Consumer Loans, Products & Services

Question 1

Highlight 3 differences between Term loan and Revolving loan

Answer 1

1. Loan tenure
   - Fixed tenure
   - Short-term revolving
2. Loan can be tapped back after payback?
   - No
   - Yes
3. Fixed installment payments
   - Yes
   - No

Question 2

What is the difference between Secured loan and Unsecured loan?

Answer 2

A loan is secured when