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What is the difference between a secured and non-secured loan?

Secured loan is a loan taken out with a collateral such as car, home loan and sometimes a business loan. Non or Unsecured loan is a loan taken out without the need for a collateral. The former carries little risk because of the property at stake so lenders usually disburses a higher loan amount in a longer repayment term as opposed to the latter which do not give lenders 100 percent guarantee of repayment. Loan amount granted for an unsecured loan depends on the gross monthly income multiplied 3-4 times its amount.