An arrangement for buying expensive goods by consumers where buyer makes an initial down payment and...........

Finance (Phase -I & II) Banking and Financial system in India

An arrangement for buying expensive goods by consumers, where buyer makes an initial down payment and pays the balance plus interest in installments and ownership is transferred on payment of last installment:

Hire Purchase

Credit Purchase

Mortgage

Hypothecation

छोटे Courses बड़े Results

Master Banking and Financial system in India

Prepare through Micro-courses

Try Now

Explanation:

Hire Purchase is a system of purchase in which hire purchaser purchase certain goods by paying certain amount as down payment and rest of the payment along with interest in installments and the ownership will be transferred on payment of last installments.