What is meaning of Secured & Unsecured loan?

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hifi55

  • Jan 11th, 2009
 

Secured loans are those which are borrowed from banks and other financial services, which are genrally huge amounts.

Unsecured loans are small amounts borrowed from unorganised instituion. Exapmle: Money borrowed from any person or a relative, where you can get the money without any security.

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smburu

  • Feb 17th, 2009
 

Secured loans refers to money borrowed from finacial institutions and secured by way of a collateral to act as the security of the loan. Unsecured loand is not secured by colateral.

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