• Answer of this question

    what difference between secured loan and unsecuredloan
    Davneet Singh's image
    Davneet Singh

    If we want to take a loan from bank,we have to give some security to them like property

    (In case,we do not repay loan,bank can sell the property to recover the loan

    Hence ,it is called a secured loan

     

     

    If we take loan from friend or relative,we do not give any security.

    Hence,it is called unsecured loan


    Written on Sept. 1, 2016, 9:38 p.m.