Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
New articles
New article comments
Latest activity
Earn Money
Money apps
Passive Income
Paid Survey
Forex
Stock
Real estate
Paid to write
Social Media Earning
Review Website/Apps
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Retirement
Personal loan
Savings for Students
Debt help
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Personal Finance Forums
Personal loan
What is an unsecured loan?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Yusra3, post: 340610, member: 31907"] An unsecured loan is a type of loan that requires no collateral from the borrower. Unlike secured loans where you must put up an asset like a home or car as collateral, unsecured loans are approved based solely on your credit profile and ability to repay. The most common forms of unsecured loans are credit cards, student loans, and personal loans. When you take out an unsecured personal loan, you are borrowing money and agreeing to repay it through fixed monthly installments over a set term, usually ranging from 1-7 years. Since there is no collateral minimizing the lender's risk, unsecured loans tend to have higher interest rates than secured options like mortgages or auto loans. Lenders also have stricter credit score and income requirements for approval on unsecured loans. However, unsecured loans provide flexible access to money for things like debt consolidation, home renovations, or major expenses without putting any assets on the line as collateral. As long as you make on-time payments, they are a sensible way to access financing. The bottom line is that unsecured loans are a type of credit product where your promise to repay is backed by your overall financial profile rather than physical collateral. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Personal Finance Forums
Personal loan
What is an unsecured loan?
Top