Akhil Lakhan Says:- Bank gives loan because they are the professionally financial institutions whose main aim to earn profits.
bank a/c dr to bank loan a/c
One bank loan = $20,000. But if you get a bank loan, you have to pay $25,000 back to the bank by the end of the game. The bank gives you $20,000 when you get a bank loan, and you can use that money to pay for your house. Just remember one bank loan is essentially -$5000.
An equity loan is where the bank gives the borrower cash for the loan amount. In return for the money the bank now owns that portion of the new house.
One can find a secured loan if they are a homeowner by going to their local bank. The bank can give them options for their secured loan, and being a homeowner gives the bank a good source for collateral, so the loan can be for a higher amount.
A-type
bank a/c dr to bank loan a/c
the loan
One bank loan = $20,000. But if you get a bank loan, you have to pay $25,000 back to the bank by the end of the game. The bank gives you $20,000 when you get a bank loan, and you can use that money to pay for your house. Just remember one bank loan is essentially -$5000.
An equity loan is where the bank gives the borrower cash for the loan amount. In return for the money the bank now owns that portion of the new house.
The simple answer is no. You must be employed to receive a loan from a bank as otherwise they have no proof that you will pay it back. Hope this helps.
i am not sure about it but today i went to the bank for the same as i also needs loan against my agriculture land. The person there said yes to me that SBI bank gives loan against agriculture land. So i hope so that this bank gives loam against agriculture land.
One can find a secured loan if they are a homeowner by going to their local bank. The bank can give them options for their secured loan, and being a homeowner gives the bank a good source for collateral, so the loan can be for a higher amount.
A-type
when the bank gives youm a sale of your money you neeed to pay back ok so go take 1m from the bank
bank loan
If your property is collateral for the bank's loan there is almost a 100% probablility that, whether you hold the deed or not, they have filed a lien against the property to protect their interests
[Debit] Loan to director 15000 [Credit] Cash / bank 15000