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Question : Which of the following is not a type of credit facility provided by banks?

 

Option 1: Overdraft facility
 

 

Option 2: Term loan facility
 

Option 3: Lease facility

 

Option 4: Cash credit facility


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Lease facility


Solution : The correct answer is (c) Lease facility

Lease facility is not typically considered a type of credit facility provided by banks. A lease is a financial arrangement where one party (lessor) allows another party (lessee) to use an asset in exchange for periodic lease payments. It is more commonly associated with leasing companies or specialized leasing institutions rather than traditional banks.

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