hi all,
can anyone explain me what does the word "MARGIN" mean in a bank loan sanction letter.
Revanth
2 Replies
Kumar Babu.G
(Chartered Accountant)
(1597 Points)
Replied 14 April 2011
While sanctioning cash credit and overdratfs banks will normally ask to deposit certain amount arrived based on some percentage on loan amount.It is called margin money.Some banks will give interest also on margin money.
Tejashwini
(Article)
(44 Points)
Replied 15 June 2013
in case of car loan how to treat the margin money given my the bank and how to account this
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