In general, you will receive more favourable terms on a secured loan than on an unsecured loan.

Question

Quizplus · Accepted Answer

This is generally true because a secured loan is backed by collateral, such as a home or car, which reduces the lender's risk. As a result, lenders are willing to offer lower interest rates and more flexible repayment terms on secured loans. In contrast, unsecured loans are not backed by collateral, so lenders may charge higher interest rates and have stricter repayment terms to offset their risk.

In General, You Will Receive More Favourable Terms on a Secured