Difference Between Secured Loan and Unsecured Loan Explained
Manyasharma0111 Dec, 2024Finance
What is secured and unsecured loan? A secured loan is backed by collateral, such as a car or home, reducing the lender's risk and leading to better terms. Unsecured loans don’t require collateral, relying on your credit score instead. While secured loans are ideal for larger amounts, unsecured loans suit smaller, short-term needs. Weigh the benefits and risks of both to choose wisely. Know your options now and apply confidently!
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