Loans Secured Against Pension
- Pay a lower interest rate by using your car as security
- Fixed interest rate for the life of the loan
- Fixed repayments for the life of the loan
- Borrow from $10,000 with no maximum loan amount. If you want to borrow less than $10,000 take a look at our Unsecured Variable Rate or Fixed rate personal loans
- Choose a term from one to five years
- Choose weekly, fortnightly or monthly repayments
- Make extra repayments up to an additional $5,000 per year^
Loans Secured Against Pension
There are two main kinds of loans - secured and unsecured loans.
Loans Secured Against Pension
The key difference between the two types of loans is that with secured
loans you are required to provide security or collateral against the
amount you are borrowing whereas an unsecured loan does not. But the
difference does not end there. Each type of loan entails different
repayment terms and interest rates and depending on your circumstances
one or the other may be a better choice for you.
Loans Secured Against Pension
Secured loans entail the borrower providing some form
of security to the lender, like a home or car. If you cannot repay the
loan this may mean the loss the home or car as the lender seeks to
recover the amount they lent you and the interest on the loan. Secured
loans usually give you the option of higher borrowing limits and lower
interest rates and are generally easier to obtain. The amount you can
borrow will be partly determined by the value of the asset you are
borrowing against. Secured loans are sometimes called Homeowner loans.
Loans Secured Against Pension
Unsecured loans do not require any form of collateral
so you will not lose your house or car if you cannot keep up with
payments. The lender will make a decision to give you a loan based on
your income and your credit history.
Loans Secured Against Pension
Common types of unsecured loans
include Personal loans, student loans and payday loans. Unsecured loans
typically carry a higher interest rate than secured loans.
Loans Secured Against Pension
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