FINANCE AND LOANS IN NELLORE

FAQ's: FREQUENTLY ASKED QUESTIONS

What is the difference between secured and unsecured loans?

Secured loans require collateral, such as a house or a car, which the lender can seize if the borrower fails to repay the loan. Unsecured loans, on the other hand, do not require collateral and are based solely on the borrower's creditworthiness. Secured loans generally have lower interest rates compared to unsecured loans.