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PERSONAL FINANCE
Options to fund your personal purchases
SECURE PERSONAL LOAN
A secured loan is when the lender will take an asset such as property or a vehicle and use it as security against the loan. This ensures that the lender can get their money back if the customer defaults on the loan. As there is security against the lend, interest rates are usually lower as there is less risk involved.
UNSECURED PERSONAL LOAN
An unsecured loan is a loan that is issued and supported only by the borrower’s credit worthiness, rather than using an asset or property as security like most lends require. Credit cards, student loans and personal loans are the most common types of unsecured loans. As there is more risk involved, this type of credit usually comes with a higher interest rate.
Personal: Loans
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