How do Bank Loans Work?

Completely new to banking and curious how the whole ‘loan’ thing works? Or just introducing the concept of banking to a newbie? This simple comic is the perfect thing to share around!

 

We’re sure many RinggitPlus users are already well aware of the answer to this. But do you know why banks need to charge interest? Or why there are banks around in the first place? Don’t worry if you’re not entirely sure of the answers to these, because we’ve put together a quick graphical explanation to help you. The comic below can also be useful to teach young ones about the basics of how bank loans function. Check it out!

How do Bank Loans Work?





Helping you look for the best financial instruments out there is what we do best, and you’re welcome to browse around the site to find the best personal loans, home loans, and other products that fit your needs. Do you have anything to say about this comic? Do let us know in the comments section down below!

 

Leave a Reply

Discussion

  Subscribe  
Notify of
You May Also Like
Read More

How Does Investing Work?

For those completely new to investing, curious beginners, or those who just want to know what all the fuss is about, here's the absolute basics of investing and how it works.