My thoughts about loans

Recently I have been able to get a considerable amount of unsecured loans after I got enough information regarding my credibility from the site . I could boldly apply for the loan from an online lender after I came to know that I could avail unsecured Personal loans from leading banks and online lenders without a collateral security. This was complemented by my good credit history. I had also learnt that people with a bad credit history are usually deprived of this facility.

There is also another type of loan called Secured loans which is also called as housing loan and you can avail such type of loan from leading banks and online lenders by keeping security as a guarantee so that you will repay the loan and get your security ex: mortgage of land, gold,etc back, In simple terms you mortgage the property or asset and avail such type of loan.There are two types of Mortgages, they are Interest only mortgages and Repayment Mortgages.

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.