ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Car loan, home loan, and loan against property are some examples of secured loans. What are some examples of unsecured loan? Student loans, personal loans, and credit cards are some of the examples of unsecured loans.

Detailed explanation-2: -Examples of secured debt include mortgages, auto loans and secured credit cards. Unsecured debt doesn’t require collateral. But missed unsecured debt payments or defaults can still have consequences. Examples of unsecured debt include student loans, personal loans and traditional credit cards.

Detailed explanation-3: -Education loans secured with collateral are known as secured loans. Many banks and non-banking financial institutions provide education loans without collateral which are known as unsecured loans.

Detailed explanation-4: -Vehicle loans. Mortgage loans. Share-secured or savings-secured Loans. Secured credit cards. Secured lines of credit. Car title loans. Pawnshop loans. Life insurance loans. More items

Detailed explanation-5: -Mortgages: Mortgages require the house being purchased to be used as collateral. Secured credit cards: For those with limited credit history, a secured credit card can offer the chance to build your credit score. Vehicle loans: These types of loans are available for cars, trucks, motorcycles and boats. 11-Oct-2022