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Monday, January 21, 2008

Personal Loan


Personal Loans:


A personal loan is an unsecured loan. That means it doesn’t need any collateral. Personal loans are established with consumer credit that is granted for personal use, based on the borrower's integrity and ability to pay back.


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Home Loan


Housing loan:

Housing loans are given for purchasing house of flat, land with house or buying land for constructing house and so on. All those people who have a regular source of income are eligible for these loans.


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Car Loan


Car Loan:


Car Loans are designed for car owners who aim at borrowing money from car lenders for purchasing a vehicle or for various transportation needs. When one buys a car loan, car becomes the security which has to be paid within a certain term. Since cars are an essential part of modern life and they are very popular nowadays, the market constantly develops and becomes more and more competitive in giving car loans.


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Credit Card


Credit Cards:


Credit Card is a card which allows a person to purchase goods on borrowed money. It helps to purchase something without paying it immediately, instead the company or organization who is issuing the credit card, makes the payment on behalf of the customer. But the customer is liable to pay the money back to the issuer of the card within a definite period of time.

The loans are very important for the survival of the people in today's environment, because the prices of all the products are very high, the middle and the poor class people are not able to purchase the products very easily, even if they want to buy any small property for it also they have to go for loans.


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Unsecured Loan


Unsecured Loan:


An unsecured loan is given on the promise to repay. Lenders consider unsecured loans more risky and may charge higher interest rates. Unsecured loans do not have collateral to back up, hence it is unsecured loans. Credit cards and personal loans are the most common type of unsecured loans.


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Site Map - Loans



A loan is an advance of money or some other thing of value, given by party A to party B, for example party A could be a Bank and party B could be any individual. Money or thing of value is given back with a legal promise by party B to party A is know as loans.


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Secured Loan


Secured Loan:


A secured loan requires one to put up property or savings as collateral to guarantee repayment. Collateral can be house, bond, insurance policies with cash values etc. If one fails to repay the loan, the lender can take the collateral. Car Loans and home equity loans are the most common types of secured loans.


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