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There are other forms of investments by which one can build equity including: -

  • Fixed Deposits;

  • Treasury Bills;

  • Debentures;

  • Government Bonds;

  • Savings Plan tied to future investment;

  • Retirement Plans

The ability of an individual to generate savings is a measure of discipline. It is a commitment and it is a sign of thrift. It means that you have managed your resources very well.

What you Should Know or Investigate?

The following are some activities borrowers should undertake: -

that

prospective

  • Find out what are the requirements of lending institutions. These vary from institution to institution, therefore it is important to shop around for the best alternative.

  • Find out what are the policies of the lending institution. Every organization is governed by a set of rules, policies, and guidelines.

  • Try to establish whether the policies of financial institutions are likely to change in the near future and the effect on one’s ability to repay the loan obligation.

  • Visit the lending institution to discuss with its lending

officers.

  • Obtain

brochures,

pamphlets,

and

other reading

materials. Study the literature to ensure that you 13

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