Secured or Unsecured loan
This query is : Resolved
05 March 2009
Is the loan extended on the security of Bank guarantee treated as Secured or Unsecured loan and why?
05 March 2009
HI RITU
LOANS CAN BE CLASSIFIED AS SECURED OR UNSECURED BASED ON THE SECURITY AVAILABLE. SECURITY HERE MEANS TANGIBLE SECURITY AND NOT PERSONAL GUARANTEE. HENCE IN URS CASE IT CAN BE CLASSIFIED AS UNSECURED LOAN
LOANS CAN BE CLASSIFIED AS SECURED OR UNSECURED BASED ON THE SECURITY AVAILABLE. SECURITY HERE MEANS TANGIBLE SECURITY AND NOT PERSONAL GUARANTEE. HENCE IN URS CASE IT CAN BE CLASSIFIED AS UNSECURED LOAN
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