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Secured and Unsecured Loans

loans

Secured and Unsecured Loans

Raag Consultants is having tie-ups with 19 Nationalized Banks and 5 NBFCs. We arrange and assist the clients to provide maximum amount of loan to individuals as well as businesses at very competitive rate of interest as compared to the market.

There are two basic categories that most loan types fall into – Secured and Unsecured. Secured loans are those loans that are protected by an asset or collateral of some sort. The item purchased, such as a home or a car, can be used as collateral, and a lien is placed on such item.

A loan is secured when a borrower is asked to pledge assets to the lender as security or collateral for the loan. If the value of the collateral falls below a certain proportion of the loan amount, the lender may ask you to top up the collateral (by pledging more assets). If you cannot repay your loan, the lender can sell off these assets to recover the money owed. If the money from the sale is not enough to recover what you owe, you have to make up the amount (shortfall) still outstanding.

Most unsecured loans charge fixed interest rates whether they are term or revolving loans, unless promotional interest rates apply. In the case of secured loans, a consumer will have a choice of fixed or floating interest rate options.


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15

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