A Multidisciplinary Research Journal - Devanga Arts College

2. Medium Term Loan 21 17.5
TOTAL 120 100
It is clear that among the 120 sample respondents who have borrowed loans from the
bank, 82.5 per cent of the respondents have borrowed short term loans and 17.5 per cent has
borrowed medium term loan More than four – fifth of the borrowings from Regional Rural
Bank are short term loans.
OPINION ON PROCEDURE FOR BORROWINGS
Borrowings from a bank involves following certain procedure. The intending borrower
has to fill in an application form giving the particulars such as his name, address, amount of loan
needed, type of security offered, period of the loan and the like complying the formalities for
sanctioning the loans.
OPINION OF PROCEDURE FOR BORROWING
S.NO. OPINION
NUMBER OF
RESPONDENTS
PERCENTAGE
TO TOTAL
1. Simple 141 94
2. Not-Simple 9 6
Total 150 100
It is clear that to 141 respondents stated that the procedure for borrowings from the bank
is simple and for 9 respondents stated it is not simple.
OPINION ON RATE OF INTEREST FOR LOANS
The rate of interest changed by different banks such as commercial banks, co-operative
banks and Regional Rural Banks are varied. It is interesting to know the opinion of the
respondents about the rate of interest charged for the loans borrowed from the bank.