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What is Retail Lending?

Feb 24, 2015 15:50 IST

    Important banking qna for banking aspirants, which is helpful in banking exam.

    • It entails servicing of a large number of accounts requiring substantial manpower, but its promotes the consumer and retail industry in a big way.
    • Consumerism gets a huge boost as the aspirations of the people for a better lifestyle is achieved through personal loans, educational loans, auto loans, consumption loans, housing loans, credit cards receivables.
    • These loans are repaid over the duration of the loan period agreed at the time of sanction/disbursement of the loan amount.
    • The interest charged is higher in case of unsecured loans as the element of risk is comparatively more.
    • The bank by charging higher interest rate tries to earn the maximum income from these accounts as likelihood of default is higher.

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