Ordinary Loan

Ordinary Loan

An ordinary loan is a type of loan that is issued by SLCB based on the borrower's creditworthiness and ability to repay the loan. Ordinary loans can be secured or unsecured and are typically used to finance larger purchases such as a car, a home, or a business venture. Secured ordinary loans require the borrower to put up collateral, such as a home or car, to secure the loan. The interest rate and repayment terms for an ordinary loan can vary depending on the lender, the borrower's creditworthiness, and the purpose of the loan. Repayment terms can range from a few months to several years, and interest rates can be fixed or variable.