Angealtobelloidn
Answered

Get detailed and accurate responses to your questions on IDNLearn.com. Our experts provide prompt and accurate answers to help you make informed decisions on any topic.

Sena is going to apply for a loan at a bank. What should sena know about banks and credit before she applies? OA Banks don't offer consumer credit. OB. They may require some form of security for loans OC Banks only offer open end credit, OD. She must be a member of the bank to apply​

Sagot :

Ayokenny2001idn

Sena should know about banks and credit before she apply that :They may require some form of security for loans.

What are bank loans?

The loans granted by banks are made up of deposits from their customers hence must request for collateral as a back up for these deposits.

When people seek loan from banks, usually banks will require some form of security for the loans. These securities serve as collateral incase the borrower is unable to pay back the loan.

Banks request for collateral to do following :

  • Collateral minimizes the risk for lenders.
  • If a borrower defaults on the loan, the lender can seize the collateral and sell it to recoup its losses.

Therefore, Sena should know that bank may require some form of security for loans before she apply for loan.

Learn more about bank loans here : https://brainly.com/question/22598793

We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. IDNLearn.com is your go-to source for dependable answers. Thank you for visiting, and we hope to assist you again.