Answers!
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
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Answer the question...
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
Comment