What is Secured loan and Unsecured loan : In this article we will tell you Secured and Unsecured Loan in Hindi will provide information about If you are applying for any loan and you do not know what are secured and unsecured loans then this article is for you. Whenever you apply for any loan, you must have heard the name of secured and unsecured loan and the question must have come in your mind that what are these loans.
Secured Loan and Unsecured Loan Your credit history matters a lot in both. In this article, we will provide you complete information about secured loans and unsecured loans, so read this article till the end.
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Secured loan and Unsecured loan in Hindi
There are mainly two types of loans in India. One secured loan and the other unsecured loan. Secured loan is the loan in which you have to give collateral or security to the lender to take the loan. But in an unsecured loan, you do not have to provide any collateral or security. You also get a low CIBIL score with a secured loan because you have to provide other security as well, but to take an unsecured loan, your CIBIL Score means a lot. In this article, further detailed information about secured loans and unsecured loans is given.
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What is secured loan? (What is Secured Loan in Hindi)
Secured loan is a loan in which you have to pledge something with the lender as collateral or security. You can use house, car, purchased item, gold etc. as collateral or security. In this loan, you have to give full confidence to the lender that you will repay the entire loan amount on time, so you have to keep something with the lender as collateral.
There are many benefits of secured loan. Under this loan, you can take advantage of lower interest rate, higher loan amount and longer loan tenure. This loan is given by the lender to the applicant with a guarantee. If you do not make full payment of your loan to the lender on time, the lender can sell your collateral to recover your money.
Some examples of secured loan are (Secured loan example in Hindi):
Secured Loan Under this, the lender gives a large amount to the applicant with the guarantee that he will repay it. A secured loan means that you are providing a security to the lender that your loan will be repaid. You get the following benefits of Secured Loan:
- low interest rates
- excess loan amount
- longer loan tenure
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What is an unsecured loan? (What is Unsecured loan in Hindi)
Unsecured loanIt is completely opposite to secured loan. In Unsecured loan Meaning in Hindi, the CIBIL Score of the applicant matters a lot. If your credit history is very bad then no lender will give you this loan. Therefore, before applying for any unsecured loan, you have to pay a lot of attention to your credit score.
To take this loan, you do not have to give anything to the lender as collateral or security. unsecured loan The interest rate is higher than that of secured loans. secured loan You get lower interest rate, lower loan amount and shorter loan tenure as compared to Rs. This loan is given by the lender to the applicant at his own risk as there is no asset to recover in case of default. If your loan is rejected considering your credit history, you can apply for a secured loan.
The lender takes several factors into consideration before granting you this loan such as:
- Applicant’s credit score, character, employment history
- Your current income, ability to repay the loan
- money in capital or savings accounts
Unsecured loan examples in Hindi:
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Secured and Unsecured Loan in Hindi
Through the table given below, we can compare secured loan and unsecured loan:
| secured loan | unsecured loan |
|---|---|
| In this loan, you have to give collateral or security to the lender. | You do not have to provide any collateral or security in this. |
| Compared to unsecured loans, the interest rate of this loan is low, loan tenure is high, loan amount is high. | Higher interest rate than secured loan, shorter loan tenure, lower loan amount |
| Processing may take time as the collateral needs to be appraised. | It will have a faster processing process as there is no need to appraise the collateral. |
| This loan is approved based on the applicant’s income, property value and other existing loans. | This loan is sanctioned on the basis of the applicant’s income, credit score, other existing loans. |
| Being secured, this loan is easy to get. | Being unsecured, this loan is comparatively a bit difficult to obtain. |
| This loan is given with a guarantee. | In this you do not have to give any guarantee of any kind. |
| In this, the loan amount depends on the factors like income, collateral or security of the applicant. | In this, the loan amount completely depends on the income, credit history of the applicant. |
| Example: Home Loan, Mortgage Loan, Car Loan etc. | Example: Personal Loan, Student Loan, Credit Card etc. |
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Secured loan vs Unsecured loan – Which one is better?
In my opinion secured loan is better. Because this loan is secured, you get it in less time. Secured Loan (secured loan) you get at low interest rate and for a long period. In this you can take more loan amount than unsecured loan.
you read this article Secured and Unsecured Loan By comparing both, it can be estimated that Secured Loan is comparatively more beneficial. Due to less risk in secured loan, lenders approve your loan in less time.
Before applying for a loan in any bank or financial institution, you should cover some things beforehand. For example, if you are taking a personal loan, then you Personal Loan Interest Rate It is important to know about, if you are taking a home loan then you should Home Loan Interest Rate It is very important to be aware of and in the same way, before applying for any other loan, you should loan interest rate It is very important to have information about
If you do not take information about the interest rate of that loan before applying for a loan, do not calculate the EMI of the loan first, then you may have to face a lot of problems at the time of loan repayment.
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Conclusion
In this article we have you Secured loan and Unsecured loan Difference in Hindi 2022 Provided complete information about You can compare between Secured Loan and Unsecured Loan by reading this article. If you want a loan of more tenure and higher loan amount at lower interest rate then you can go for secured loan. Because of the secured loan being secured, it is approved by the lender in a short time.
If you still have question in your mind that Secured and Unsecured loan Kya Hota Hai then you can write us in comment. Hope friends you have found this article informative. If you liked this article then please share it with your friends.
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Questions related to Secured loan and Unsecured loan in Hindi:
The loan which the bank provides to the customers at their own risk is an unsecured loan.
Car loan comes under the category of a secured loan as the car itself acts as security in this.
Personal loan, education loan etc.
This article compares both these loans. You can read this article completely.
The bank provides you both types of loans.
Most of the two wheeler loans in India are unsecured but some lenders also offer secured two wheeler loans whose interest rates are comparatively low.