Summary on Term Loan Deposits

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A Loan is a kind of a debt where a borrower borrows a desired amount of money from the bank, keeping a security along with the condition that the sum received will be paid back in Equated Monthly Installments along with a rate (fixed/floating/flat) of interest: i.e - an amount charged on the loan issued. A deposit is a kind of an investment where the customer invests a certain amount of money in a scheme for a certain period of time in exchange of an interest which a bank pays at the end of the tenure of that scheme. With the kind of influx and financial regulations that is going on in the finance sector, various financial houses, private and public sector banks offers suitable schemes to their customers to either opt for a loan or to go in for a deposit.

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