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Definitions
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Dictionary > Definitions > Economy > Loan pass work
Loan pass work
Definition
The Credit Pass-Work was instituted on August 3, 1998 by an agreement made between the State, movement 1 % housing and the Two sides of industry. Since this date, all the employees of the private sector (and reprocessed since less than 5 years) can obtain
Description
The durations of these loans are all different, which does not facilitate the management of the family budget since the monthly instalments will not be constant. In order to smooth the monthly payment, the banks propose a loan on several levels of refunding: the monthly payments of the multirate loan have the characteristic to vary according to the total of the monthly payments coming from the other loans, other monthly payments and of capacity of refunding
Author
Md.Khurshed Alam
Author Email
mk_alamcce@yahoo.com
References
Definitions to be consulted