all about A secured loan

 

A secured loan :

is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral — in the event that the borrower defaults, the creditor takes possession of the asset used as collateral and may sell it to regain some or all of the amount originally lent to the borrower, for example, foreclosure of a home. From the creditor's perspective this is a category of debt in which a lender has been granted a portion of the bundle of rights to specified property. If the sale of the collateral does not raise enough money to pay off the debt, the creditor can often obtain a deficiency judgment against the borrower for the remaining amount. The opposite of secured debt/loan is unsecured debt, which is not connected to any specific piece of property and instead the creditor may only satisfy the debt against the borrower rather than the borrower's collateral and the borrower

 (source Wikipedia )

Nominal interest rate:

In finance and economics nominal interest rate or nominal rate of interest refers to the rate of interest before adjustment for inflation (in contrast with the real interest rate); or, for interest rates "as stated" without adjustment for the full effect of compounding (also referred to as the nominal annual rate). An interest rate is called nominal if the frequency of compounding (e.g. a month) is not identical to the basic time unit normally a year ).

  :Turnover

is sometimes a synonym for revenue (or in certain contexts, sales), especially in European and South African usage.

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Secured Loans:

Products :Secured Cash Loan

Who is it for? : All customers

Benefits:

No minimum salary requirement Maximum loan amount up to 90% of the collateral amount Choice of repayment period up to 5 years

For More information : 

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  SOURCE :http://all-newstechnologie.blogspot.com (Wikipedia 25%)

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