Read the following source and answer the questions that follow: Megha has taken a loan of ₹ 5 lakhs from the bank to purchase a house. The annual…

Read the following source and answer the questions that follow : Megha has taken a loan of ₹ $\displaystyle 5$ lakhs from the bank to purchase a house. The annual interest rate on the loan is $\displaystyle 12$ per cent and the loan is to be repaid in $\displaystyle 10$ years in monthly instalments. Megha had to submit to the bank, documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest. $\displaystyle 3.1$ From which source of credit Megha has taken loan ? $\displaystyle 3.2$ Explain the terms of credit given in the source.