If you are gearing up to take the loan, then you would have come across two terms, secured loans and unsecured loans . Before opting for either type, you must be aware of the pros and cons of both loan types. In the case of an unsecured loan , you can get money without putting anything as collateral. Whereas a secured loan is the one where the bank may ask you to put something as security, it can be property papers, cars or anything that your lender specifies. This blog will also give you an insight about personal loan. Understanding Secured Loans- As already mentioned, secured loans demand the borrower to put something as collateral. The loans may vary, and the lender may ask you to put your home, car or savings as security. When people buy a home or car, they usually take a secured loan. Irrespective of the type of secured loan you avail, the lender can seize the property in case you fail to make the repayment of the loan. If you have kept your car as collateral, then the len
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