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Secured loan – This can be a loan where by the borrower will pledge his asset just like a motor vehicle or house which can be bought if he is not able to fork out back the loan.

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Co-signer – Somebody who willfully symptoms a loan agreement Using the borrower and partly assumes responsibility of repayment of a loan.

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Bank card – This is a card issued by the bank as a way to make payments for purchases. The fantastic balance is subject matter to desire.