Floater Percentage Loan

Nova

Well-known member
I have learned about this new type of loan that the banks are offering. The thing about this type of the loan is that each year the percentage of the loan would change. Like say in 2020, the loan percent could be 10 percent. And 2021 the percent can go down considering people dont have strong means to pay. and once the economy rises up the percent would increase as well. and often some of the time the percent can be reduced on the basis of the people who are having financial crisis the bank would adjust the percent accordingly.

I think this sort of the floater percentages are good because banks don't become evil. And in some way they can get their money out too. And also they don't have to focus much on the cashflow. I think this could be a good progress for the people who take loan and also the banks who offer such type of the scheme for repayment.

Floater percentage loans can be a good future if even crypto banks start to offer it.
 
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