All About Loan In Singapore
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Secured Personal Loans – A Great Way Free Up Cash In Your Assets

When you are building up your personal assets, you may one day feel why you are tight on cash while you have a healthy personal portfolio of assets you have built up over the years. That is being asset rich and cash poor. One thing that asset rich cash poor individuals often fail to recognize is that they can retain ownership of their assets while leveraging on them to enjoy more luxury in their lifestyles. Secured personal loans are more easily obtained from lenders because there is security involved. It generally also have a lower interest rate compared to unsecured loans.

There are lots of lenders that offer secured personal loans. You can also find a lot of them online. To apply for this type of loan, you need to place some collateral against the loan. It may be in the form of property, shares, deposits, gold, machinery, etc. It must have good market value. If you are unable to repay the loan, the lender have the legal rights to repossess the collateral and sell it off to repay the outstanding loans amount and related charges.

Interest rates for secured personal loans can be quite low compared to unsecured personal loans. The loan tenure can also be much longer.

The most common form of collateral used for secured personal loans is property. Properties have more stable market value and is a good hedge against inflation. Properties prices tend to rise together with inflation.

There are many online lenders that offer secured personal loans. You may find that their application process can be very simple. However, do make sure that it is a legitimate lender that you are dealing with. The main drawback of taking up a secured personal loan is that the lender can repossess your collateral when you fail to repay the loan. So you might want to keep away from secured personal loans if you are risk adverse and cannot bear to take the risk of losing your assets pledged for the loan.