An unsecured loan is a type of credit facility that is not backed by any collateral. It is based solely on the borrower’s creditworthiness and ability to repay the loan. In India, unsecured loans include personal loans, credit card loans and business loans that do not require any collateral to be pledged as security. Usually, …
Post Type Archives: Glossary
Unsecured Loans
A type of loan or credit facility that is not secured by any collateral is called an unsecured loan. Personal loans are unsecured loans while home loans or gold loans are secured loans. Getting unsecured loans requires you to qualify for financing by meeting a lender’s eligibility terms. In addition, such loans may come with …