Do you pay more interest on unsecured loans than on secured ones?

Do you pay more interest on unsecured loans than on secured ones?
by

1 Answer

Answer :

Interest rates are typically higher on unsecured loans rather than on secured loans. This is because there is no collateral backing the loan.
by

Related questions

Under ______ debentures, if the issuer fails on payment of either the principal or interest amount, his assets can be sold to repay the liability to the investors A. Secured Debentures B. Partly Convertible Debentures (PCD) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Description : Under ______ debentures, if the issuer fails on payment of either the principal or interest amount, his assets can be sold to repay the liability to the investors A. Secured Debentures B. ... ) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Last Answer : A. Secured Debentures Explanation: These instruments are secured by a charge on the fixed assets of the issuer company. So if the issuer fails on payment of either the principal or interest amount, his assets can be sold to repay the liability to the investors.

What is the difference between a secured and unsecured credit card?

Description : What is the difference between a secured and unsecured credit card?

Last Answer : A secured credit card is a credit card that requires a security deposit. Secured credit cards are generally for individuals whose credit is damaged or who have no credit history. Your credit line will ... credit. http://lmgtfy.com/?q=What+is+the+difference+between+a+secured+and+unsecured+credit+card

Can you explain what the difference is between unsecured and secured business credit cards?

Description : Can you explain what the difference is between unsecured and secured business credit cards?

Last Answer : Unsecured credit cards allow free spending with a credit limit. They are the most common type of credit card and are based upon trust. Secured credit cards are backed by funds that are pre-paid into the account or collateral. They are more like a loan.

hi i wanted to download the free chapter 7 form which pertains to listing all my secured debts and unsecured debts. which form is this. there are so many and im confused. is there a link you could send me thanks?

Description : hi i wanted to download the free chapter 7 form which pertains to listing all my secured debts and unsecured debts. which form is this. there are so many and im confused. is there a link you could send me thanks?

Last Answer : I'm not sure if you can file all this on one form. The list of unsecured debts can be listed on the following form: http://www.uscourts.gov/rules/BK_Forms_1207/B_004_1207f.pdf

What is the difference between a secured loan and a unsecured loan?

Description : What is the difference between a secured loan and a unsecured loan?

Last Answer : A secured loan is a loan where you have to provide some form of collateral. An unsecured loan is where you do not but the interest is very high and typically is not provided by legitimate financial institutions.

What are the differences between a secured and unsecured credit card?

Description : What are the differences between a secured and unsecured credit card?

Last Answer : I have never heard of credit card that is unsecured. So you better off check with the proper legal bank's credit card then apply for one, don't put yourself into the scam.

A part of debt instruments that are converted into Equity shares in the future at notice of the issuer is called _________ A. Secured Debentures B. Partly Convertible Debentures (PCD) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Description : A part of debt instruments that are converted into Equity shares in the future at notice of the issuer is called _________ A. Secured Debentures B. Partly Convertible Debentures (PCD) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Last Answer : B. Partly Convertible Debentures (PCD) Explanation: A part of these instruments are converted into Equity shares in the future at notice of the issuer. The issuer decides the ratio for conversion. This is normally decided at the time of subscription.

In which of the following conversion the investors enjoy the same status as ordinary shareholders of the company? A. Secured Debentures B. Partly Convertible Debentures (PCD) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Description : In which of the following conversion the investors enjoy the same status as ordinary shareholders of the company? A. Secured Debentures B. Partly Convertible Debentures (PCD) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Last Answer : C. Fully convertible Debentures (FCD) Explanation: These are fully convertible into Equity shares at the issuer‘s notice. The ratio of conversion is decided by the issuer. Upon conversion the investors enjoy the same status as ordinary shareholders of the company.

Any sum due to an employee out of provident fund is an example of : a) Unsecured creditors b) Preferential creditors c) Secured creditors d) Partly secured creditor

Description : Any sum due to an employee out of provident fund is an example of : a) Unsecured creditors b) Preferential creditors c) Secured creditors d) Partly secured creditor

Last Answer : b) Preferential creditors

Liability for compensation under Workmen’s Compensation Act is treated a) Secured creditor b) Preferential creditor c) Over – riding preferential creditor d) Unsecured creditor

Description : Liability for compensation under Workmen’s Compensation Act is treated a) Secured creditor b) Preferential creditor c) Over – riding preferential creditor d) Unsecured creditor

Last Answer : Over – riding preferential creditor

Amount of calls in advance is treated as a) Secured creditor b) Preferential creditor c) Asset not specifically pledged d) Unsecured creditor

Description : Amount of calls in advance is treated as a) Secured creditor b) Preferential creditor c) Asset not specifically pledged d) Unsecured creditor

Last Answer : b) Preferential creditor

______Card can be issued to parties for undertaking any activities coming under the purview to direct finance to agriculture.(a) secured b) unsecured c) Fixed )

Description : ______Card can be issued to parties for undertaking any activities coming under the purview to direct finance to agriculture.(a) secured b) unsecured c) Fixed )

Last Answer : b) unsecured

What questions should you ask about unsecured loans?

Description : What questions should you ask about unsecured loans?

Last Answer : Review the Truth in Lending statement so that you understand the rate of interest and what it means in the overall repayment of the loan. Find out if there are penalties for early repayment ... certain number of on-time payments. Read the contract and make sure you understand the terms completely.

Why are car loans always secured with collaterals?

Description : Why are car loans always secured with collaterals?

Last Answer : The car can always be repossessed if the owner stops paying offthe loan.

How to Obtain an Unsecured Personal Loan to Pay for College Expenses?

Description : How to Obtain an Unsecured Personal Loan to Pay for College Expenses?

Last Answer : If you need additional money for college, consider applying for an unsecured personal loan. Many students utilize personal loans to help pay for their college education. Even if you currently receive federal ... on your credit report, the lender may be hesitant to approve your loan application. So,

How much interest will I save if I pay off my loans sooner?

Description : How much interest will I save if I pay off my loans sooner?

Last Answer : If it is simple loan then you will have to pay interest only for the days for which you have used the funds. This will result in saving interest on remaining duration of loan period. There are ... state the extra money that you have to pay in case of early repayment. Please check loan agreement.

What is the fastest way to pay off payday loans before they gain too much interest?

Description : What is the fastest way to pay off payday loans before they gain too much interest?

Last Answer : The fastest way to pay off a payday loan so the loan does not gain too much interest is to pay the loan in full before the due date. If you wait till the due date youll pay for every day it takes to pay the loan back youll pay intrest on that day.

If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should A) Always pay by cash B) Cross your Cheques ‘Account Payee only, Not Negotiable.’ C) Always get the money in person D) Not use the postal service in future

Description : If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should A) Always pay by cash B) Cross your Cheques ‘Account Payee only, Not Negotiable.’ C) Always get the money in person D) Not use the postal service in future

Last Answer : Answer: B

Personal loans should have a lower interest rate than student loans.?

Description : Personal loans should have a lower interest rate than student loans.?

Last Answer : Personal loans should have a lower interest rate than student loans.

Should people who knowingly keep loaded and unsecured firearms in the house, when there is a mentally ill person living in the house, be charged as an accessory if the mentally ill person goes on a rampage and kills a bunch of people?

Description : Should people who knowingly keep loaded and unsecured firearms in the house, when there is a mentally ill person living in the house, be charged as an accessory if the mentally ill person goes on a rampage and kills a bunch of people?

Last Answer : Good question. I’d say they should have some kind of responsibility. They should at least be charged with having no common sense. (For those that are going to tell me that’s not a crime, I know. It’s a joke)

How dangerous is it to use an unsecured WiFi network?

Description : How dangerous is it to use an unsecured WiFi network?

Last Answer : answer:There are risks, but there is not an army of evil-doers with agents at every Starbucks awaiting innocent victims. And there are easy ways to minimize risk. Lifehacker - ... of airport wi-fi honeypots http://www.bettnet.com/blog/index.php/weblog/travel_tip_beware_of_airport_wi_fi_honeypots/

What are the disadvantages to having an unsecured wireless network?

Description : What are the disadvantages to having an unsecured wireless network?

Last Answer : People can easily connect and get free Internet, which can considerably slow your connection down. Also, if somome gets your IP they’ll easily be able to get into your computer and documents. You should definitely secure your network.

Where is the best place to get an unsecured personal loan for debt consolidation of around $19k?

Description : Where is the best place to get an unsecured personal loan for debt consolidation of around $19k?

Last Answer : You might want to check out Propser, a peer-to-peer lending site.

Which bank provides unsecured banking services ?

Description : Which bank provides unsecured banking services ?

Last Answer : Grameen Bank provides unsecured banking services.

Can an unsecured loan be used to buy a personal computer?

Description : Can an unsecured loan be used to buy a personal computer?

Last Answer : Many banks offer unsecured personal loans for people with great credit. If you need a fast personal loan check with Bank of America or chase.

What is an unsecured loan used for?

Description : What is an unsecured loan used for?

Last Answer : The difference between an unsecured loan and a secured loan is very big if for some reason bankruptcy is declared or the loan cannot pay repaid. Secured means that the buyer still needs to repay and unsecured mean he doesn't if bankruptcy is declared.

Does unsecured loan affect the credit score?

Description : Does unsecured loan affect the credit score?

Last Answer : Not only unsecured loans, but any loan you take affect your credit score.If you are paying the EMIs regularly without delay then it will boost your credit score and vice-versa.If you are interested in ... com, submit your details and choose the bank with best interest rates. It's as easy as that.

_________ are long term corporate bonds that are unsecured in nature. A. DCF B. Debentures C. Covenant D. CRAs

Description : _________ are long term corporate bonds that are unsecured in nature. A. DCF B. Debentures C. Covenant D. CRAs

Last Answer : B. Debentures Explanation: A long-term security yielding a fixed rate of interest, issued by a company and secured against assets are known as debentures.

List A in statement of affairs gives in the list of a) Assets specifically pledged b) Assets not specifically pledged c) Preferential creditors d) Unsecured creditors

Description : List A in statement of affairs gives in the list of a) Assets specifically pledged b) Assets not specifically pledged c) Preferential creditors d) Unsecured creditors

Last Answer : b) Assets not specifically pledged

A contributory is a a) Unsecured creditor b) Shareholder c) Preferential creditor

Description : A contributory is a a) Unsecured creditor b) Shareholder c) Preferential creditor

Last Answer : b) Shareholder

Unsecured short term deposit made by one company with another (only in case of public company) a. ICD b. Overdraft c. Cash Credit d. Promissory Note

Description : Unsecured short term deposit made by one company with another (only in case of public company) a. ICD b. Overdraft c. Cash Credit d. Promissory Note

Last Answer : a. ICD

Best interest rate for private student loans?

Description : Best interest rate for private student loans?

Last Answer : citibank mine seem to be really low what is your current rate?

Can I re consolidate my student loans now that the interest rate is lower?

Description : Can I re consolidate my student loans now that the interest rate is lower?

Last Answer : It would be advisable. Speak to a specialist broker.

Compare formal sector loans with an informal sector of loans regarding interest only. -SST 10th

Description : Compare formal sector loans with an informal sector of loans regarding interest only. -SST 10th

Last Answer : The loans given by the formal sector have low rates of interest whereas the loans given by the informal sector have very high rates of interest.

Which firms issue loans at minimum interest rates?

Description : Which firms issue loans at minimum interest rates?

Last Answer : I can advice a company that issues loans at a minimum annual interest. For review follow the link htt ps://bit. ly/35 JtvyC (just remove spaces).

How can I avoid high interest for auto refinance loans?

Description : How can I avoid high interest for auto refinance loans?

Last Answer : You can avoid high interest for auto refinance loans by going to www.carbuyingtips.com/refinance.htm. You can also try www.anycreditmortgage.biz/MortgageRefinance.htm The best way to avoid a high ... sure your credit stays good. You can normally find lower refinancing rates with a credit union.

Who offers low interest auto loans in Long Beach?

Description : Who offers low interest auto loans in Long Beach?

Last Answer : There are several national banks like Bank of America that offers low rates. You can also try getting a loan thru the local credit union.

Unsubsidized Loans Accrue Interest?

Description : Unsubsidized Loans Accrue Interest?

Last Answer : The Federal Stafford Loan program offers both subsidized and unsubsidized loans for college students. The former does not accrue interest, meaning the student will only have to pay back the ... per year for dependent undergraduate students and $6,000 per year for independent underclassman students.

What is the interest like on student loans for people with bad credit?

Description : What is the interest like on student loans for people with bad credit?

Last Answer : There are a number of government loans that are offered with no credit checks. In order to be eligible for these loans, you must fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA ... as well as yourself. If you are independent of your parents, the form will only apply to you.

What is the interest rate on federal student loans?

Description : What is the interest rate on federal student loans?

Last Answer : The current interest rate on direct subsidized federal Stafford loans for undergraduate students is 3.4%. The interest rate for graduate and professional students and on all unsubsidized loans is 6.8%.

What are the current interest rates for home loans?

Description : What are the current interest rates for home loans?

Last Answer : Interest rates fluctuate with every subsequent financial quarter, so it's best to keep an eye on them as close as possible throughout the year. As of 4th quarter 2011 the mortage rate for home loans sits at 8.6% on a national average.

What are the current interest rates for home loans for people who want one?

Description : What are the current interest rates for home loans for people who want one?

Last Answer : Interest rates for home loans can vary based on your credit, and how fast you plan to pay them off. The current interest rates are generally between 2% upwards to 4% and 5%.

Know How to Spend Low Interest Student Loans?

Description : Know How to Spend Low Interest Student Loans?

Last Answer : Some students assume they can use their low interest student loans to buy anything and everything. The truth is there are strict guidelines over how a student can use his or her low interest student ... should be sure that he or she is only spending the money on living expenses and school expenses.

Auto Loans and Interest Rates?

Description : Auto Loans and Interest Rates?

Last Answer : The interest rate you get with your auto loan depends on a few things. Your credit score, where you live, and the length of your loan all play a role in determining your interest rate. Of these, your ... of the 600's, you start to see higher interest rates. A credit score of 620 will give you a

Bank Rate refers to the interest rate at which - (1) Commercial banks receive deposits from the public (2) Central bank gives loans to Commercial banks (3) Government loans are floated (4) Commercial banks grant loans to their customers

Description : Bank Rate refers to the interest rate at which - (1) Commercial banks receive deposits from the public (2) Central bank gives loans to Commercial banks (3) Government loans are floated (4) Commercial banks grant loans to their customers

Last Answer : (2) Central bank gives loans to Commercial banks Explanation: Bank rate is the interest rate at which a nation's central bank lends money to domestic banks. Often these loans are very short in duration.

Interest paid by the government on the loans raised is called - (1) Debt Servicing (2) Deficit Financing (3) Discounted Budgeting (4) Bridge-loan

Description : Interest paid by the government on the loans raised is called - (1) Debt Servicing (2) Deficit Financing (3) Discounted Budgeting (4) Bridge-loan

Last Answer : (1) Debt Servicing Explanation: Debt service is the amount of money required to make payments on the principal and interest on outstanding loans, the interest on bonds. or the principal of maturing bonds. An ... or company unable to make such payments is said to be "unable to service one's debt."

Which one of the following is not included in current revenue of the Union Government? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) interest payments

Description : Which one of the following is not included in current revenue of the Union Government? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) interest payments

Last Answer : (3) Loans Explanation: Loans are not included in the current revenue of the Union Government.

The aim of Differentiated Interest Scheme was to provide concessional loans to - (1) weaker section of the society (2) Public Sector Industries (3) Public Limited Companies (4) big exports

Description : The aim of Differentiated Interest Scheme was to provide concessional loans to - (1) weaker section of the society (2) Public Sector Industries (3) Public Limited Companies (4) big exports

Last Answer : (1) weaker section of the society Explanation: The Differential Rate of Interest Scheme, formulated in March 1972, offers financial assistance at concessional rate of interest. 0 4% to those who intend taking up any productive activity and has been tailored for persons whose income is very low.

An index that is used to determine interest rates and/or changes of interest rates of certain types of loans is known as _________ A. Covenant B. CRAR C. COFI D. CRAs

Description : An index that is used to determine interest rates and/or changes of interest rates of certain types of loans is known as _________ A. Covenant B. CRAR C. COFI D. CRAs

Last Answer : C. COFI Explanation: A cost of funds index or COFI is a regional average of interest expenses incurred by financial institutions, which in turn is used as a base for calculating variable rate loans.