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What is the difference
between all the kinds of
loans?

If you have any query
related to loans, than read
next slides to learn more
about loans.
There are two main kinds of loans
- secured and unsecured loans.
The key difference between the two types
of loans is that with secured loans you are
required to provide security or collateral
against the amount you are borrowing
whereas an unsecured loan does not. But
the difference does not end there. Each
type of loan entails different repayment
terms and interest rates and depending on
your circumstances one or the other may
be a better choice for you.
Secured loans
Secured loans entail the borrower
providing some form of security to the
lender, like a home or car. If you cannot
repay the loan this may mean the loss the
home or car as the lender seeks to recover
the amount they lent you and the interest
on the loan. Secured loans usually give
you the option of higher borrowing limits
and lower interest rates and are generally
easier to obtain. The amount you can
borrow will be partly determined by the
value of the asset you are borrowing
against. Secured loans are sometimes
called Homeowner loans.
Unsecured loans

Unsecured loans do not require any form
of collateral so you will not lose your house
or car if you cannot keep up with
payments. The lender will make a decision
to give you a loan based on your income
and your credit history. Common types of
unsecured
loans
include
Personal
loans, student loans and payday loans.
Unsecured loans typically carry a higher
interest rate than secured loans.
Need to Contact us!!

Apply for loan here:
http://www.24by7loans.co.uk/applyform.php

Know more about loans and follow the simple procedure of
application form for getting your loan today.

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What is the difference between all the kinds

  • 1. What is the difference between all the kinds of loans? If you have any query related to loans, than read next slides to learn more about loans.
  • 2. There are two main kinds of loans - secured and unsecured loans. The key difference between the two types of loans is that with secured loans you are required to provide security or collateral against the amount you are borrowing whereas an unsecured loan does not. But the difference does not end there. Each type of loan entails different repayment terms and interest rates and depending on your circumstances one or the other may be a better choice for you.
  • 3. Secured loans Secured loans entail the borrower providing some form of security to the lender, like a home or car. If you cannot repay the loan this may mean the loss the home or car as the lender seeks to recover the amount they lent you and the interest on the loan. Secured loans usually give you the option of higher borrowing limits and lower interest rates and are generally easier to obtain. The amount you can borrow will be partly determined by the value of the asset you are borrowing against. Secured loans are sometimes called Homeowner loans.
  • 4. Unsecured loans Unsecured loans do not require any form of collateral so you will not lose your house or car if you cannot keep up with payments. The lender will make a decision to give you a loan based on your income and your credit history. Common types of unsecured loans include Personal loans, student loans and payday loans. Unsecured loans typically carry a higher interest rate than secured loans.
  • 5. Need to Contact us!! Apply for loan here: http://www.24by7loans.co.uk/applyform.php Know more about loans and follow the simple procedure of application form for getting your loan today.