types of borrowing Flashcards
1
Q
overdraft
A
allows you to take money you don’t have from a current account
2
Q
personal loans
A
borrow set amount for a specific reason paid back in regular installments with interest
3
Q
hire purchase
A
get item immediately without paying instantly
4
Q
mortgages
A
long term loan used to buy a property
5
Q
credit card
A
paid for through card the you pay debt of every month without interest
6
Q
payday loans
A
short term loan high interest
