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Secured loan and unsecured loan

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(Querist)
23 August 2015 what is difference between secured loan and unsecured loan
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Amol S Joglekar

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Amol S Joglekar (Expert)
23 August 2015 The loan which is secured against a property is called secured loan. e.g. housing loan, machinery loan, vehicle loan, gold loan, loan against FDR etc.

The loan which is NOT secured as above is called as UNSECURED loan. e.g. hand loan, loan from a friend on personal etc.
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