ADVANTAGES AND DISADVANTAGES OF BANK LOAN

គុណសម្បត្តិ និងគុណវិបត្ត​នៃប្រាក់កម្ចីពីធនាគារ

ADVANTAGES AND DISADVANTAGES OF BANK LOAN

At the rate our country is developing because we’re living in an age of great changes. For the economic field is also presently involved in an accelerated development program, too. We know that there are a lot of banks in our country and all the banks always give loans to people. However, bank loan only provides advantages and also provides disadvantages. So, what are the advantages and disadvantages of bank loan?

If we talk about its advantages, there are a lot of point of advantages, Firstly, I’d like to rise about the speed talk. People sometime focus on time security very much. So if borrowers need to borrow the money, the bank can be secured quickly in less than an hour. Next, we consider about uses. The borrows can use bank a number of reasons such as taking money to run businesses, invest in stocks, buy home buy vehicles or buy something that want or need. Moreover, a bank loan is a financial package which helps us tide over difficult time. The last advantages of bank loan, involves specification of using money. All a borrower should do is to repay the money in equated in equated monthly on or before the stipulated date.

In contrast, the bank also gives many disadvantages to people, too. The first disadvantage is related to fees. Some loans carry a prepayment penalty to prevent the borrower from paying the note off early without incurring extra cost, so it is the problem that the borrowers should care about. Secondly, too much money. After that have no money to refund, therefore the banks will take there house, fields and other had borrowed in a large amount of money from the bank. Then they had no money to refund because they didn’t take this money to run business or did the thing that make them get income, therefore bank took their house and field. As a result, they have no house to live and no field to do farm.

According to my description, we can conclude that bank loan can provide a lot of advantages and disadvantages. But if we know how to use the loan for the useful thing, it may give us a lot of advantages more than gives disadvantages.