Know about the Finance and Investments Terms

Secured loans are the loans which you can get after keeping collateral (such as your house, car, or investment scheme) as a guarantee. This means that the lender will have the ownership of your security and have nothing to lose even if you cannot repay the loan. This allows the lender to offer several features as the following.  

1. Easier to borrow 

You cannot wait for the finance for months on end, especially if you need the fund for an emergency. In case of secured loans, lenders can lend the loan quickly which makes it easier to borrow. 

2. Long loan tenure

Secured loans have a longer tenure which allows you to repay without disrupting your monthly budget and expense. 

3. Lower interest rate 

The rate of interest is lower as the lenders have a guarantee. This reduces the load of a high repayment amount. 

4. High funding limits 

Lenders can able to lend you a higher amount as they have ownership of your investment in case you are unable to repay for the loan.  

These are some reasons you should opt for a secured loan. Make sure that you choose your financial institution wisely before applying for the loan.  

To know more about the secured loans, click here: Everything to Know About Secured Loans in India