Secured Loan or Unsecured Loan

Which loan will be right? Secured loan or unsecured.

It depends on the purpose for which you want to take the loan.

What is the difference between them?

The bank gives a loan by mortgaging a property in a secured loan, if you have taken a home loan to buy a house, the bank will have the right to the house papers till you repay the entire home loan.

When a loan is given without any guarantee, it is an unsecured loan. There is no guarantee or collateral from the customer in this loan.

Which is the secured loan? 1-Home Loan 2-Loan Against Property 3-Car Loan 4-Gold Loan

What is an unsecured loan? 1-Personal loan 2-Business loan 3-Group loan

The rate of interest is low in secured loan, hence secured loan should be taken.

To know about secured loan or unsecured loan, click on Learn more given below.