What is the difference between secured and unsecured loan at the bank?
A secured loan is where there is a physical item that can be claimed if the loan is not paid - a house, a car, jewelry, etc. An unsecured loan is where there is nothing for a bank to take to get its money back if you default, such as education loans, credit cards and similar loans. ...
Asked in Personal Finance, Loans, Mortgages, Home Equity and Refinancing, Home Buying, Money Management
What is the difference between Home equity loan and a line of credit?
The difference between a home equity loan and a line of credit is that a home equity loan is money that is borrowed against the equitable value of a home, whereas a line of credit is a loan that can used for anything and is not borrowed against the value of a home. ...
Asked in Business Accounting and Bookkeeping
How do you pass journal entry if company take t he loan from bank includes interest?
debit bank account credit loan from bank when interest incurred debit interest on loan credit loan from bank ...
Asked in Auto Loans and Financing, Personal Finance, Loans, Credit Reports, Improving Your Credit Rating, Money Management
Is it possibleto get an auto loan with a 547 credit score?
It is unlikely that a bank would give a person a loan who has a credit score of 547. A good credit score for a loan would be between 700-800. ...
Asked in Credit and Debit Cards, Banking
Who do you talk to at the bank to check on your bank credit?
You can go to your local bank or the bank which you bank with and ask a mortgage loan officer, or a loan officer to run your credit to see what it is. ...
What is the difference in Conventional loan verses credit card loan?
The primary difference between a conventional loan and a credit card loan is that a conventional loan is given to you in one lump sum whereas a "credit card loan" or line of credit can be drawn down as needed rather than in one lump sum. You can find out more about business lines of credit by visiting www.businessloc.com ...
Difference between a bank loan and a bank overdraft?
A bank loan is a note that is repaid over years. A bank draft is only used when you don't have the funds in your account. ...
Asked in US Army
What is the difference between credit officer and loan officer?
credit officer assesses the capacity to pay of the client. loan officer extends loans to the assessed cleint ...
Can you get an easy bank loan for a new car?
Getting an easy bank loan for a new car will depend on your credit rating. If your credit rating is Good or above, you would easily qualify for a loan. If your credit rating is not very good, then you are unlikely to qualify for a loan. ...