An is a category of loan in which the borrower receives a loan based solely on his or her creditworthiness and does not need to must pledge some sort of asset as collateral.

An unsecured loan is a category of the loan in which the borrower receives a loan based solely on his or her creditworthiness and does not need to must pledge some sort of asset as collateral.

Further Explanation:

Unsecured loan:

An unsecured loan refers to the loan that is granted based on the applicant’s creditworthiness. The applicant does not require to transfer any asset to back the loan. The bank checks the credit history of the applicant and issues the loan only based on the credibility to repay the loan. As the loan is granted solely based on the creditworthiness, therefore, it is known as the unsecured loan.

The unsecured loan is considered risky for the banker or the lender because it is not secured by any asset. The banker or lender would not be able to take the possession of any asset at the time of default in the payment of the loan.

Fill in the blank:

An unsecured loan is a category of the loan in which the borrower receives a loan based solely on his or her creditworthiness and does not need to must pledge some sort of asset as collateral.

Learn more:

Answer details:

Grade: Senior School

Chapter: Loans

Subject: Accounting

Keywords: category, loan, which, borrower, receives, loan, solely, his, her, creditworthiness, does, must, pledge, some, sort, asset, collateral.

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

~