Unsecured loan A loan with no collateral. Without collateral, your personal creditworthiness will be more important than for a secured loan.Read moreabout how to get a good credit score before you apply for a loan. Mortgage loan A secured loan where the collateral is real estate.Read moreabout...
Source: IANS New Delhi, Jan 28 (IANS) Indians have generally been savers and debt on personal balance sheets have generally been restricted to housing debt, vehicle loan or credit cards. Of late, the RBI has sounded caution on the growth of unsecured personal debt, but as a percenta...
If you’re satisfied with the loan terms, simply sign the loan agreement and proceed to the next step. If you however fail to qualify for an unsecured personal loan, you can always apply for a secured personal line with your car or home as collateral. Be cautious however with the number ...
M.H.E.A.C. has not made direct loans but under its Higher Education Loan Plan (HELP) it has undertaken to guarantee 80 per cent of loans made by commercial banks to eligible borrowers, up to ten times the corporation’s capital. The banks will lend unsecured loans of up to $1,500 ...
A guarantor loan is different from other loans in a couple of ways. First of all, they include a third party. That third party will be someone you know who will act as a guarantor and will make any of the payments you miss. Secondly, guarantor loans are generally unsecured, meaning they...
Personal loans allow you to borrow a fixed amount at a fixed interest rate. These loans are unsecured, meaning you don’t have to put your home or other property up as collateral. Many personal loan lenders allow you to borrow as much as $35,000 forhome improvements— sometimes more, dep...
There are other aspects also of cheap secured personal loans. Make sure that you borrow an amount that is well below equity in the property you have placed as collateral as this secures the loan more and so lender is in better position to grant the loan at cheap rate. You should also ha...
Secured stream requires some property like home or car etc to be pledged as collateral against the loan amount. While in case of unsecured loans no such security is necessitated. Thus the interest rate here is slightly higher then the former one but the processing is swift as time for propert...
And the unsecured form is formatted for persons who are unable to place collateral. The latter paves the way to borrow amount between ?1,000 and ?25,000 for 1-10 years. The loan is suitable for meeting not single but miscellaneous personal ends. And all that comes at cheap cost. ...