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Definitions
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Dictionary > Definitions > Economy > Multirate loan
Multirate loan
Definition
In order to smooth its Monthly payment the banks propose a Credit on several levels of refunding: the monthly payments of the multirate Credit have the characteristic to vary according to the total of the monthly payments coming from sound other appropri
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 Thus, the Monthly payment of multirate will be relatively low over the first years and will increase proportionally with the reduction in the remainder of the monthly payments
Author
Md.khurshed Amal
Author Email
mk_alamcce@yahoo.com
References
Definitions to be consulted