Archive for December, 2007

Types of loans

Saturday, December 8th, 2007

Personal loan is a generic term which is used to explain the loans given to the individuals. There are different types of personal loans. Following are few of them:

* Secured loan

In this type of loans one has to keep his property as collateral. Failing to repay the amount might make you loose your property.

* Unsecured loan

In this type of loan there is no collateral involved. But the rate of interest is a little high in this case.

* Short term personal loans

The sources of this type of loans are the banks, online financial companies etc. The rate of interest involved is very high.

* Fast cash advance loan

This type of loan helps you’re to come out of the sudden monetary crisis. Be it car repair or some other unexpected bill, you can always apply for a fast cash advance loan.

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