Personal Finance Part Ii - What is safety For Loans?

Student Loans And Social Security - Personal Finance Part Ii - What is safety For Loans?

Security loan is the type of loan borrowers have to assign collateral to the lender to clear tangible assets such as stocks, bonds, life assurance policies, a car, or a home, in case of borrower defaulting on the loans, in order to cut the lender's risk.

Student Loans And Social Security

1. Fully and partially secured loans
a) Fully secured loan
If the borrower signs over to the lender assets equal in value to the total loan, that loan is fully secured.
b) Partial secured loans
Partial secured loan is the loan that is not fully secured. Only a clear percentage of the loan is being secured by clear tangible assets.

2. Signature Loans
A borrower considered to present diminutive risk to the lender may be asked for nothing more than a signature on the promissory note and loan application form.

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