You are required to bank loans, but it makes you wonder if the choice is between service mortgage loan and mortgage loan, you should opt for a satisfactory service, easy to manage personal finances? Here are the necessary knowledge to help you make the best decisions for their loans.
Unsecured loans and mortgages is what?
Mortgage loan: Also called loan without collateral simplest sense is the amount the borrower can get the desired loan without mortgage of assets or any other conditions when loan guarantee money.
Mortgage Loans: A loan products secured assets, eg loans to buy cars with housing mortgages, consumer loans mortgages personal savings book ... The ownership of assets remain with the borrower, but if they can not pay their debts to the bank customers to transfer property ownership to the bank to liquidate.
Currency borrowers need to understand advantages and disadvantages to know which to choose mortgage loan or mortgage that can come to a right decision - first they need to understand the nature of this form 2.
The nature of the mortgage loan and mortgage?
Mortgage loan:
In unsecured loans, borrowers do not need to mortgage any property, can use just the amount you borrow to carry out the tasks that have been pre-planned and just pay a financial term is not worth including monthly during the loan. Parallel besides currency depreciation over time as well as loans for initial loan value "value" in the future.
Mortgage loan programs are now mostly very convenient and fast. Just over 2-3 days (depending on region) customers received immediate disbursement of the loan amount from 10 to 300 million without mortgage collateral.
Now funds are disbursed based on documents such as payroll, labor contracts, life insurance contracts ... in a short time.
Easy to own and installment loans are small monthly. Bank based on your salary limit for lending. Unsecured loans are usually from 6 times to 20 times, depending where you are wage work. If the employee is normally 6 times salary loans and if medical staff from industry, the police, the law, the loan can be up to 20 times the monthly salary in cash.
Without collateral, without guarantee company, the service at no cost.
But there are certainly advantages will have the disadvantage of that is likely to emerge as the borrower of bad debts do not have to mortgage their properties and do not need a guarantor, a lot of potential risks so that high interest rates will than other loan packages.
But this is the bank's services, but it still segregated into separate blocks. Interest rate will not like mortgage borrowers. Most fall into the range of interest rates 1.66% / month. Some cases, the interest rate is lower than 1.2% / month and usually it is an individual customer VIP customer types.
Customers simply owe overdue (Special Mention as customers delayed loan payments not in compliance with banking regulations) will not support borrowing records. This is the point where the customer base is currently lending support will be scarce. As this loan program is not so reputable mortgage is placed on top and banks are very strict approval.
