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Q.

What is loan and why we take loan?

Tags: money, real estate, loan
Asked by Hemant jaiswal, 26 Sep '13 05:15 pm
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Answers (4)

1.

Loan is take from other person or bank never to return it
Answered by babu rao, 26 Sep '13 07:23 pm

 
  
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2.

It's nothing borrowing something for your necessity and you may avoid, if you are financially comfortable....!
Answered by Dil Se, 26 Sep '13 06:44 pm

 
  
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3.

We take a loan to post pay our obligations incurred for spending on the things we cannot purchase at present. The things may be Capital Goods or for meeting day-to-day expense. In case of Capital goods, e.g. machinery etc for an industry, it generates funds for repayment and for meeting day-t-day expenses e.g. paying fee for ur child , it is revenve expense which is paid your income or expected income. There can be further classifications and answers to ur WHY.

Loan is broadly a liability incurred for procuring an asset or meeting unplanned expense.
Answered by laloo, 26 Sep '13 05:25 pm

 
  
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4.

In finance, a loan is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower.
Loan is not limited to Money only-We take some essential things also as a loan for a shorter period- for or not for a consideration kinds
We take loan when we need that for some purpose of self interest!
Answered by Suraj ka Dostaana, 26 Sep '13 05:19 pm

 
  
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