Loan – Secured and unsecured loans
May 31st, 2010
There are different types of loans that are available and if you want to buy a car, house or anything, you can secure a Loan. There are basically two types of loans – secured and unsecured loans. When you opt for a secured loan you have to pledge a collateral, which can be anything right from your house or an asset that has some monetary value. Unsecured loan is free from these collaterals and the entire monetary risk is taken by the lender. However, both the loans have their advantages and disadvantages. While secured loans are offered at low interest rates, unsecured loans are available at comparatively higher rate of interest.
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