
WHAT IS A SECURED LOAN?A secured loan is a loan in which the borrower pledges an asset (e.g. a car or property) as collateral for the loan. WHAT IS AN UNSECURED LOAN?Unsecured loans are monetary loans that are not secured against the borrower's assets. These often take the form of credit card debt, personal loans, bank overdrafts, credit facilities or corporate bonds. You can find out more about the standard types of loan in our article, 5 of the most common bank loans and how they work. WHAT IS A BALLOON PAYMENT?A balloon payment is a large, lump-sum...