Sena is going to apply for a loan at a bank. What should sena know about banks and credit before she applies? OA Banks don't offer consumer credit. OB. They may require some form of security for loans OC Banks only offer open end credit, OD. She must be a member of the bank to apply

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07-01-2022
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Sena is going to apply for a loan at a bank. What should sena know about banks and credit before she applies? OA Banks don't offer consumer credit. OB. They may require some form of security for loans OC Banks only offer open end credit, OD. She must be a member of the bank to apply

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ayokenny2001 ayokenny2001 · Answer 1 · 2022-01-12T12:17:03+01:00

Sena should know about banks and credit before she apply that :They may require some form of security for loans.

What are bank loans?

The loans granted by banks are made up of deposits from their customers hence must request for collateral as a back up for these deposits.

When people seek loan from banks, usually banks will require some form of security for the loans. These securities serve as collateral incase the borrower is unable to pay back the loan.

Banks request for collateral to do following :

Collateral minimizes the risk for lenders.
If a borrower defaults on the loan, the lender can seize the collateral and sell it to recoup its losses.

Therefore, Sena should know that bank may require some form of security for loans before she apply for loan.

Learn more about bank loans here : https://brainly.com/question/22598793

Sena is going to apply for a loan at a bank. What should sena know about banks and credit before she applies? OA Banks don't offer consumer credit. OB. They may require some form of security for loans OC Banks only offer open end credit, OD. She must be a member of the bank to apply​

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What are bank loans?

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Sena is going to apply for a loan at a bank. What should sena know about banks and credit before she applies? OA Banks don't offer consumer credit. OB. They may require some form of security for loans OC Banks only offer open end credit, OD. She must be a member of the bank to apply