Secured vs. Unsecured Personal Loans: Which one should you choose?
1 month ago

Secured vs. Unsecured Personal Loans: Which one should you choose?

Live Mint  

Are you planning to apply for a personal loan but are confused whether to go for a secured loan or an unsecured loan? Let’s understand what are secured and unsecured personal loans and which is the best option for you to choose. Hence, these loans have a lower interest rate as compared to unsecured personal loans as the risk is comparatively less for the lender with the collateral. Secured vs. unsecured personal loan Secured and unsecured personal loans have their own advantages and disadvantages. The loan disbursement is much quicker in the case of unsecured personal loans as the verification process is easier and time efficient as compared to secured loans.

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History of this topic

Secured vs. Unsecured Credit Cards: Which type fits your financial needs?
22 hours, 18 minutes ago

Secured vs. Unsecured Credit Cards: Which type fits your financial needs?

Live Mint  

A credit card is a financial tool accessible to many, unlike the common belief that it can only be availed by people with good credit history. Disadvantages of secured credit card Limited credit limit: The credit limit is determined according to the fixed deposit in a secured credit card, which is 75% to 85% of the total amount. Time-consuming process: …

Choosing the Right Type of Personal Loan for You
1 week, 4 days ago

Choosing the Right Type of Personal Loan for You

Live Mint  

Among the diverse financial products available today, personal loans stand out as a flexible and accessible option for individuals looking to meet their financial needs. Whether it's consolidating debt, funding a wedding, or managing unexpected medical expenses, personal loans can be the bridge to achieving your financial goals. Types of Personal Loans Understanding the different personal loan types can help …

5 key benefits of personal loans that you should know about –– flexibility, lack of usage curbs, and …
Trending News
4 weeks ago

5 key benefits of personal loans that you should know about –– flexibility, lack of usage curbs, and …

Live Mint  

Life often presents us with unforeseen expenses includeasily available to people. Knowing the key benefits of personal loans can help you make well-informed financial choices to achieve your objectives. The interest rates on personal loans are usually affected by several factors, including your credit score, income, and the loan amount. Quick disbursement process: Personal loans are approved and disbursed within …

Personal Loans: What are the different types of loans you can choose?
1 month ago

Personal Loans: What are the different types of loans you can choose?

Live Mint  

Over a period of time, the use of personal loans has extended to cover almost all possible needs of any individual, for example, loans for home renovation, medical expenses, etc. Fixed interest rates: The majority of personal loans come with fixed interest rates hence the monthly charges remain constant. The majority of personal loans come with fixed interest rates hence …

Personal loans for big purchases: Here are the pros and cons
6 months, 4 weeks ago

Personal loans for big purchases: Here are the pros and cons

Live Mint  

A personal loan presents a viable option for financing significant purchases. In contrast to credit cards, which may have variable interest rates based on your creditworthiness or the state of the market, personal loans provide peace of mind. Possibility of reduced interest rates: Interest rates on personal loans are usually lower than those on credit cards, especially for borrowers with …

What are the different types of loans?
2 years, 11 months ago

What are the different types of loans?

Business Standard  

People borrow money for various reasons. Unlike the secured loans, unsecured loans are taken without keeping a collateral. Lenders give funds in an unsecured loan solely on the borrower’s creditworthiness and promise to repay. While giving unsecured loans, banks check credit history of the borrower. Examples of unsecured loans are personal loan, education loan and credit card transactions.

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