ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An unsecured loan
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A provision loan
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A reorganization loan
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A secured loan
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Detailed explanation-1: -Home loans and car loans are the most common examples of secured loans where the borrower will be required to pledge the vehicle or house to be purchased as collateral, which then become secured debt.
Detailed explanation-2: -Mortgages and car loans are two types of collateralized loans. Other personal assets, such as a savings or investment account, can be used to secure a collateralized personal loan.
Detailed explanation-3: -A secured loan is a type of loan in which a borrower pledges an asset such as a car, property, or equity etc., against that loan. The loan amount made available to the borrower is usually based on the value of the collateral.
Detailed explanation-4: -A collateral loan is often called a secured loan. This means the loan is guaranteed by something you own. And if you can’t pay your loan back, the lender has the right to claim the collateral, whether it’s a…
Detailed explanation-5: -Real Estate Collateral. Business Equipment Collateral. Inventory Collateral. Invoices Collateral. Blanket Lien Collateral. Cash Collateral. Investments Collateral. 17-Feb-2021