Saturday, February 24th 2018

Question

What is an unsecured loan?

Interesting Question?   (7)   (8)



Answers (1)

18th Nov 2009 by JonB

Security is used to describe what the lender has right to in case a loan is defaulted on or their collateral. For example, the security in a mortgage is a house. The security in a car loan is the car. An unsecured loan is with without any real collateral behind it. Examples of unsecured loans could be credit card loans, or simply a personal loan given to you by your bank. As you can imagine, unsecured loans typically have higher interest rates and less favorable terms than loans with security.

Like This Answer?   (0)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com



17th Nov 2009 In Finance 1 Answers | 1774 Views
Subjects: unsecured loan,

Answer This Question / Give Your Opinion
What is an unsecured loan?


Answer: *

What country is this answer relevent to? *
Your Name: *

Enter Verification Number: *


Give Your Opinion
What are the different types of Zions Bank home loans?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
What are the different types of Zions Bank home loans?
Unanswered Questions in Finance
What is a par loan?
What is loan sharking?
How to calculate mortgage interest?
Which are the best books on finance?
What are the different types of mastercard credit cards?

Answered Questions in Finance
How to get business finance?
How to avoid credit card debt?
Compare hedge fund vs private equity?
where can i get a debt consolidation loan?
How do you finance a pool?
Ask A Question
Get opinions on what you want to know:
Specific to any country?