- Fixed interest rate as low as 3.00% per annum (Flat)
- Approved loan amount of up to 1150,000
- Consolidate Credit Card and/or Personal Loan commitments into ONE single monthly repayment
Unsecured Vs. Secured LoansA secured loan:
This is
basically a loan in which the borrowers offer some of their assets for
instance a car to act as a form of security or as a collateral
for the loan. This makes the borrowing of such a loan attract
relatively lower rates than for the unsecure loans. One should be
cautious with this option as failure to meet the payment requirements
might lead to one losing the asset he/she pledged as a collateral or
security.
An unsecured loan:
Its acquisition might
turn out to be tedious as it does not require any security or
collateral. The financial and credit worthiness of an individual will be
great determinants of whether the loan will be awarded to them or not.
These are measures that are meant to ensure or guarantee payment of a
specified loan.
In case a borrower defaults or is unable to
complete the payment he/she could be taken to court after which the sale
of ones property could be the only way to get the required amount but
this is indirect and different from the case of secured loans.
A secured loan:
This is basically a loan in which the borrowers offer some of their assets for instance a car to act as a form of security or as a collateral for the loan. This makes the borrowing of such a loan attract relatively lower rates than for the unsecure loans. One should be cautious with this option as failure to meet the payment requirements might lead to one losing the asset he/she pledged as a collateral or security.
An unsecured loan:
Its acquisition might turn out to be tedious as it does not require any security or collateral. The financial and credit worthiness of an individual will be great determinants of whether the loan will be awarded to them or not. These are measures that are meant to ensure or guarantee payment of a specified loan.
In case a borrower defaults or is unable to complete the payment he/she could be taken to court after which the sale of ones property could be the only way to get the required amount but this is indirect and different from the case of secured loans.
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