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  #1  
Old 12-06-2017, 07:12 AM
jennys jennys is offline
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Default What is the Difference between Unsecured and Secured Loans?

What is the Difference between Unsecured and Secured Loans?
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Old 12-09-2017, 06:38 AM
divi divi is offline
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Default Re: What is the Difference between Unsecured and Secured Loans?

A secured loan is you pledge something like house, car or gold in order to get a loan. Whereas on an unsecured loan there is no collateral. That is the reason banks ask for salary transfer to their bank accounts as the loan is provided on your monthly income. http://www.mymoneysouq.com/financial...may-not-aware/ you can check this for more understanding
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Old 12-14-2017, 05:01 AM
Banknomics Banknomics is offline
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Smile Re: What is the Difference between Unsecured and Secured Loans?

Bank and NBFCs offer Secured loans and unsecured loans. In the secured loan they ask for some collateral like home, property, insurance policies or other assets , whether in unsecured loans they never ask for any collateral. The interest of unsecured loans is quite costly as compared to the secured loans. For Detailed indormation you counsult with a financial advisor like Banknomics, Paisa Bazaar, Bank bazaar etc.
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Old 02-08-2018, 02:19 AM
Quikrupee Quikrupee is offline
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Default Re: What is the Difference between Unsecured and Secured Loans?

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Originally Posted by jennys View Post
What is the Difference between Unsecured and Secured Loans?
Unsecured Loans basically are given as personal loan and business loan. Unsecured meaning without any actual collateral or security. It is a great useful for various salaried or self-employed person in getting a business loan or personal loan without any security. The rate of interest is usually high and starting from 18% onwards.

Secured loans are provided under any collateral or security like house, plot, jewels, shares and even insurance as a security against their loan amount. The interest rate is much less than unsecured loans.
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Old 04-19-2018, 06:04 AM
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amritaagarwal amritaagarwal is offline
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Default Re: What is the Difference between Unsecured and Secured Loans?

Unsecured loans are which does not have any collateral. Secured Loans are with collateral. Personal Loan is a unsecured loan.
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