According to the loan news that I've read awhile ago,the demand for a secured loans has increased for the past six months. Personally, I believe that it's right. If I'm going to apply for a loan I will surely go for a secured loan. For the simple reason that I don't have to worry about the increase rate of my loan in the coming year. Besides base on the observation of the MoneyExpert.com ( a financial advice website), the annual percentage rate of a secured loan is lower compared to an unsecured loan.
This news is a good eye opener to the people who get confused about which loan to get. We use to apply for a secured loan as a last resort, but due to on going world crisis, and the incresing rate of loans seems to be inevitable, looks like Secured Loans is the best option especially to the homeowners who are looking for a competitive rate of interest.
Also, for people who are being denied from getting a credit card, secured loan can be considered as an alternative.This is supported by a report in moneyextra.com.
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