Bank Loan

As Global Economy is growing, more and more Banks are offering Bank Loans to people. Bank loans are of so many types. Such as Home loans, car loans, personal loans, mortgage loans, Education/Student Loans….and many more…

Definition: Bank Loan -

- loan made by a bank; to be repaid with interest on or before a fixed date.

- A Bank Loan can be of any type such as Car, Education, Home, Personal, Mortgage….etc… Bank has a portfolio of Debt products known as a Bank Loan.

Explanation -

There are several varieties of Bank Loans available in the Financial Market. But Middle Class people don’t know that how the Maths behind Bank loans work? They just take loans whenever they get a salary rise.

But a Smart person is one who uses these Bank loans in favour of him to get more richer. Say for Example, Typical Middle Class take Personal Loans, Car Loans & Credit Cards while a Smart person takes Education loans, Business loans & Mortgage loans to get richer faster than anyone else.

Your Financial Success depends on which Bank loan you take and how you use it in your favour to get rich. And this is purely dependent on your Financial IQ.

Rich people always take a Good Bank Loans while middle class always take a Bad Bank Loans. Good Bank loan is one which at the end of the loan repayment produces an Asset for you (Property, Home, Business, Education). While a Bad Bank Loan is one which at the end produce only depreciating items (Car, Mobiles, Shopping items, Consumer Goods…etc…)