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It is the attitudes towards risk of various Banks and Financial Institutions that the topic of security has emerged in the field of lending and borrowing. In the past, normally people loved to invest in nationalized banks. These banks would obviously go for the traditional method of security and reference checks before sanctioning any amount as secured loans for you. Even, today also, the scenario is the same for these nationalized banks. People feel secured and confident while dealing with these banks.

But, the thing is that, it is the age of intense competition. Private Banks have entered into the field and they have to grab a considerable portion of the share from the nationalized banks. In order to do this, these private banks have to win the confidence of the public. So they are playing with a new strategy. They are offering loans to the public without checking whether they will be able to repay the amount. These loans are in the form of personal loans.





Again, people with bad credit history are usually not offered a new loan. But there are few institutions which will offer you loans even if you have a bad credit report. But, again, arguments are there if they charge the borrower with heavy rates. The best thing you can do to compare rates by visiting numerous websites which offer these services.

What came out was just from my personal experience. At one point of time, due to some unavoidable circumstances, my finances suffered. I was forced to borrow from a Private bank as they did not ask for any security unlike the nationalized ones. I got my personal loan sanctioned but the rates were stinking high! I had no option rather than accepting this one.

If you would like to share some more vital information about this topic, then visit http://www.thriftyscot.co.uk/money/secured.html .