A secured loan can be obtained by placing an asset as collateral, which serves as a security against the loan amount. In the event of too many delays or defaults, the lender can take over the pledged property. To benefit from a secured deal, one must pay his EMI’s (Equal Monthly Instalments = Principle + Interest) as decided, i.e., on time and in full.



One can find a variety of secured loan products in the credit bazaar. Devised according to their usage, some of the most saleable ones are:

Wedding loans - designed for endless wedding expenses, these loans ensure that those expenses do not over-shadow ones wedding plans

Holiday loans - designed to cover vacation as well as holiday season expenses, these loans ensure that a tight financial situation does not stop people from enjoying their holidays

Car loans - designed for new as well as used car purchase, these loans help people buy and drive their desired vehicle

Home loans - designed for home or property owners, these loans ensure maximum benefits like low APR and comfortable repayment terms

Business loans - designed for varied business requirements, these loans give concrete shape to the dreams of an aspiring entrepreneur and new life to an existing business

Debt consolidation loans - designed for people facing multiple debt difficulties, these loans combine all their debts into a single manageable debt

Bad credit Secured loans- designed for people stuck in a bad credit situation, these loans are the perfect choice to come out and improve the bad credit score

The above-mentioned range of products proves that these loans are any purpose loans. The basic criteria to avail all secured loans remain same - credit record and DTI ratio. However, the APR may vary according to the type and amount of loan required, desired payback method and period, and value of the pledged collateral.