Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

How is a secured loan different from an unsecured loan?

April 26, 2017different loan secured loan unsecured

0

Posted

How is a secured loan different from an unsecured loan?

2 Answers

0

Posted

With a secured loan, customers secure the loan with a pledge of collateral, such as a fixed deposit. With an unsecured loan, the loan is not secured against a collateral, but requires the salary of the customer to be transferred to Gulf Bank.

0

10 Posted

With a secured loan, customers are backing the loan with a pledge of collateral, such as a car or home. With an unsecured loan, also known as a signature loan, the loan is not backed by any collateral.