Consumer Fince

Consumer financing

The term consumer financing refers to any kind of lending to consumer by banking sector and financial institutions. in simple way we can say its type of services that is provide to individuals with necessary finance for personal purchases ranging from buying a car ,buying a house etc. consumer financing base on an institutional arrangement that provides consumer financing support to improve their living standard

Consumer financing is define in the prudential regulations of state bank of Pakistan

According to this regulations consumer financing means to allow finance any individuals for fulfill the needs of personal, family or household. The corporate and commercial consumer are excluded from this definition

The categorized in the following four types of product which under as

* Personal loan

* Car financing

* Housing finance

* Credit card

* Debit card

Personal loan

It is a loan which is provided to individual for the payment of goods, services and expenses and included running finance as well as revolving credit to individuals the running finance facility is provided to individual for a specific time limit at variable interest rate.

Housing finance

It is a loan which is provided to individual for the purpose of the purchasing or improving a residential house, apartment, and land .its included loans for a combination of housing activities such as loan for purchase of land plus construction

Car financing

Car finance include any loans used to purchase a vehicle for personal use the loans borrowed to purchase vehicles for commercial or corporate use are not included in this category

Credit card

Credit card is your partner everywhere and is globally accepted. it is accept at nearly 30 million locations in more than 200 countries around the globe

In credit card you pay for shopping, travel, entertainment, meals and much more .card member are facilitated through number of promotions from time to time...