Protected vs. Collateral-free Loans: Understanding the Difference
When applying for a loan, one of the most crucial factors is whether it's protected or unsecured. A collateralised loan necessitates collateral, which is an asset the lender can seize if you fail to repay on the loan. This collateral acts as security for the lender, rendering secured loans less hazardous. Conversely, an unsecured loan forgoes this