What Is a Credit FacilityWritten by pradeep Home » Finance and
Investing There are many definitions of credit facility. It is
commonly known as a loan, which is taken from a financial
institution and a person who is in need of the credit. Credit
facilities consist of different types of credit that ranges from
revolving credit to a credit that is used as a backup for the
company. When a person asks for a credit from the bank, he
should pledge immovable property to the bank in the form of
collateral. This is a mandatory in all the banks, unless it is a
small amount. There are various types of credit facilities,
which the banks provide. This article will discuss about these
facilities. - credit card- this is a device, which the bank
issues to its account holder. The cardholder can use this card
to make credit purchases from shopping. At the end of every
month, the cardholder has to pay the bill, which he has
accumulated with the use of the credit card. The car holder has
the advantage of paying this amount in in