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Secured loan – It is a loan in which the borrower will pledge his asset like a motor vehicle or property which will be offered if He's unable to pay back the loan.
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FDIC or Federal Deposit Insurance coverage Company – Generally a federal agency which insures a consumer’s deposit inside their financial savings and for any loan of as more info much as $a hundred,000 For each and every account. These deposits will consist of cost savings and checking accounts in addition to deposit certificates.