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
Teachoo is free. Login to view more pages.
Login with facebook
Login with gmail
On signing up you are confirming that you have read and agree to
Terms of Service