Valuation
Before disbursal of a loan against a property, usually the bank conducts a valuation check on the property being offered as collateral. This is done to find out the market value of the property. The value of the property will be a factor considered while granting the loan.
Variable Expenses
Variable expenses are those that can change from month to month.Variable expenses include necessities that can be reduced (such as food and utilities) and non-essentials that could be eliminated (e.g., long distance telecall charges, cable, magazine subscriptions,etc). Reducing these expenses is the simplest step in getting control of your finances.
Variable Interest Rate
An interest rate that is not fixed but can vary within a pre-fixed band by the loan-issuing bank. For example some credit card issuers charge variable Interest rate on the outstanding un-paid
balance depending upon the credit score or credit behavior/payment pattern of the customer. An interest rate that is not fixed but can vary within a pre-fixed band by the loan-issuing bank. For example some credit card issuers charge variable Interest rate on the outstanding un-paid
balance depending upon the credit score or credit behavior/payment pattern of the customer. (See floating rates).
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