Loan taken from bank (secured or unsecured )
This query is : Resolved
Eswar Reddy S
(Querist)
27 September 2014
Some people are telling If we take loan from bank it is a secured loan ?
Is it correct?
Is there any basis to determine secured and unsecured?
Nikhil Kaushik
(Expert)
27 September 2014
secured or unsecured depends on whether or not the borrower has given any collateral security to the bank for obtaining the loan...for an secured loan the bank has no security from the borrow.
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