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Tuesday, October 8

Collateral Security

Soon to be reality in your country?
 
An Illiterate Tribal went to a Bank for a Loan of 2,00,000/- to buy Buffaloes. 

The Branch Manager asked what Collateral Security will he offer. 

Since the Tribal didn't Understand the Concept, the Branch Manager explained in detail about Collateral Security. 

The tribal kept his house as Collateral and the Loan was sanctioned for 2,00,000/- @ 9% interest for 5 Years. 

In 6 months the Tribal repaid the entire Loan. The Branch Manager was very happy and asked him what he was doing with the excess Money in the hope of Getting his Deposits target fulfilled. 

The Tribal said he kept it in his house locker. 

The Manager then pitched for his Fixed deposit saying that the Bank will give 7% interest and that his Money will Grow. 

Now Came the interesting Part 

The Tribal asked him
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"What Collateral Security will Your Bank offer Me to keep my Money in Bank? 😂😂

The question needs to be asked now, only with the intention of safeguarding our own Money.

The best message received recently. Worth Sharing!!!

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