Rahul needs a loan and is speaking to several lending agencies about the interest rates they would charge and the terms they offer. He particularly likes his local bank because he is being offered a nominal rate of 8
1) The local bank has the lowest interest rate among all the lending agencies.
2) The local bank has the best terms among all the lending agencies.
3) The local bank has the highest interest rate among all the lending agencies.
4) The local bank has the worst terms among all the lending agencies.