Question

The financial institution that generally charges the LOWEST rates on loans is a A) credit union. B) finance company. C) commercial bank. D) savings and loan.

Answer 1

A) Credits Union is the correct answer.

Answer 2

A) credit union.

Explanation:

The financial institution that generally charges the LOWEST rates on loans is a - credit union.

Credit unions are not-for-profit organizations whose purpose is to serve their members. The credit unions provide deposit accounts, provide loans and also other financial services. These unions provide a very low and reasonable rate of interest.