1.0 INTRODUCTION What is loan scheme? When do we need a loan scheme?

In this assignment, I was asked to plan a budget proposal for monthly and annual expense based on my gazette monthly income and relevan induction. Loan is defined as an arrangement in which a lender gives money or property to a borrower, and the borrower agrees to return the property or repay the money, usually along with interest, at some future point in time. Usually, there is a predetermined time for repaying a loan, and generally the lender has to bear the risk that the borrower may not repay. Besides that, based on Kamus Inggeris Melayu Dewan (1999), loan is money lent on interest. Thats means loan scheme is a scheme offered by ones finance or bank to lend some money with simple interest to the people who want to loan some money from them. As the summary of the contents in chapter 1, I will touch about the objectives of this assignment. Moreover, this chapter also consists in JPT PROJECT TASK, RUANG LINGKUP, MY INDIVIDUAL PLAN WORK, and the summary of this chapter and the next chapters.