These loans are provided at low rate of interest to the borrowers

These loans are provided at low rate of interest to the borrowers, who have an excellent
or good credit record. Such people can borrow the money in secured or unsecured option
of the loan. However, the unsecured loan is ideal option for the good credit borrowers, as
they do not carry many risks for the lenders, and interest rate may be lowered for them.
Such a loan, however, is of small amounts ranging from ￡3000 to ￡25000, and it should
be repaid in 5 to 10 years.