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On LINE LOAN APPLICATION Loan Information Collateral

On LINE LOAN APPLICATION Loan Information Collateral

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[Music] loans broadly fall in two categories they are unsecured and secured loans an unsecured loan is released based on the credit worthiness of the borrower and is generally provided to those with high credit scores unsecured loans could be a revolving loan product that contains a credit limit such as a credit card or a term loan where a lump sum amount is given to the borrower who repays it in monthly emis until the end of the term a popular form of unsecured loan is a personal loan that can be availed for various purposes and has no restrictions on the end usage they can also be avail for specific purposes like marriage education travel emergency or a loan for debt consolidation which can be used to pay off existing unsecured debt obligations on the other hand in the secured loans the borrower is required to keep an asset as surety or collateral to borrow money put simply collateral is an item of value that a lender can seize from a borrower if he or she fails to repay a loan ing t

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