Orval Business Solutions Financial Consultant based in Pan India. We arrange funding against Secured Loan & Unsecured Loan.

What is the difference between a secured and an unsecured loan?

A secured loan is where we use one of your assets, usually a car, as security against your personal loan. This vehicle may be forfeited to the bank if you fail to meet your repayments. As we are able to hold this security, secured loans have a lower interest rate.

An unsecured loan means that there is no security against the loan.

While secured debt uses property as collateral to support the loan, unsecured debt has no collateral attached to it. However, because of collateral connected to secured debt, the interest rates tend to be lower, loan limits higher and repayment terms longer.

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