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What is Types of Consumer Loans Explained about?

A consumer loan is a loan given to consumers to finance specific expenditures like mortgages, credit cards, auto loans, student loans, and personal loans. There are secured consumer loans backed by collateral and unsecured loans without collateral. Common types are open-end revolving credit like credit cards and closed-end installment loans used to finance specific purchases.

Author

vincent.reynaud.74

Language

EN