Secured business loans are any type of funding you must back with collateral. That collateral could be property, equipment, or can be any other asset. The total value of all items you put up as collateral must be greater or equal to the loan amount. Securing loans allows lenders to offer lower interest rates. Because secured loans give lenders.
- GST Business Loan: Loan based on GST returns for working capital requirement. Avail Overdraft facility against property up to ₹ 20.0 mn on the basis of Goods and Services Tax (GST) returns, with no financials requirement. Know More Apply Now.
- If you choose to offer security for your business loan, you will typically pay a lower interest rate than if you choose the unsecured business loan option. Bear in mind that the interest rate is lower because we secure the loan using a pre-agreed asset, which we can recover against if you are unable to repay the loan.
- With an unsecured business loan, you don't have to offer up collateral to get approved. You should keep in mind that an unsecured loan comes with some drawbacks for you as a borrower, like higher interest rates and shorter repayment terms.
- Some unsecured loans types include personal loans, credit card purchases, business loans etc. This also answers the question of whether a personal loan is secured or unsecured and we find that a personal loan is a type of unsecured loan.
- Loans can be unsecured depending on your business’ circumstances. Repay over 1 to 5 years. 9.6% APR (fixed). Zero arrangement fees. Early repayment charges may apply. Interest is calculated daily and charged monthly. You can only apply in branch. Branches open 7 days a week.