WHAT IS LOAN

A loan is a sum of money that one or more

individuals or companies borrow from 
banks or other financial institutions so as to
financially manage planned or unplanned
events.
 LOAN RECOVERY
• Debt recovery and debt collection are
similar terms with one small, but very
important distinction. The difference is
who is trying to retrieve a debt.
Credit score
• CIBIL is one of the four credit bureaus in India that
generates reports based on your credit score. Your CIBIL
score reflects your credit history.
 How to handle the call
• Know the rules: You, as a debtor, have certain rights.
Knowing those rights will help you handle a recovery
agent. You can ask the recovery agent to show his
identity card issued by the bank or under the
authority of the bank.You have a right to privacy.
 What is overdue charges
• The term late fee refers to a charge consumers pay when
they fail to make a payment on a debt such as a loan or a
credit card by the due date.
• What is Penalty Charges :
• Penalty interest, also called penalty APR (penalty annual
percentage rate), default interest, late payment, interest on
arrears, or penal interest, in money lending and in sales
contracts is punitive interest charged by a lender to a
borrower if instalments are ...
 Interest
• Interest is the monetary charge for the
privilege of borrowing money, typically
expressed as an annual percentage rate (APR).
Interest is the amount of money a lender or
financial institution receives for lending out
money.
TYPES OF PAYMENT METHOD
• There are different types of payment methods and they vary from
business to business. You have to figure out which payment method
will suit the nature of your business and at the same time appeal to
your customers. 
• 1. Google Pay
• 2. Paytm
• 3. Debit Card & Credit Card
• 4. PhonePe