The different type of loans are:-

  • Secured:- A loan in which a borrower gives some asset as collateral like mortgage loan
  • Unsecured:- A loan in which a borrower does not provide the assets as collateral like personal loans
  • Demand:- These loans are the short term loans which do not have a fixed date of the repayment.
  • Subsidized:- In these loans, the interest is reduced by the hidden subsidy

Concessional:- These loans are given at the lowest market rates.

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