Subgroups of the loan group are ________. (Choose single correct option)
a) Unsecured Loan
b) Marriage Loan
c) Personal Loan
d) Home Loan
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a) Unsecured Loan it is
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Answer:
The correct answer would be A, Unsecured Loans.
Explanation:
There are two main types of loans, secured and unsecured loans. Secured loans are the ones that have some collateral involved, whereas unsecured loans are the ones that have no collateral involved and also these loans are given solely on the creditworthiness of the client. Marriage loans, personal loans and home loans are further categories of the loans, either secured or unsecured. But the main sub group of loans is the unsecured loans in this question.
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