“The Best Comes With The Lowest” With Cheap Secured Loans

Cheap secured loans are offered against any collateral. It could be real estate, automobiles or some other valuable assets. Generally, with cheap secured loans, the ranges of borrowed amount are from $3,000 to $75,000. But, in case of greater amount, lenders will check the worth of your collateral. If your collateral has higher value then, lenders will not only be willing to offer higher amount but also a lower interest rate. Even cheap secured loans are available for a comfortable duration of up to 25 years and you can pay off the instalments either monthly or quarterly.

Cheap secured loans however are offered at better terms and conditions that suit the borrower’s requirement. The interest rate of cheap secured loans varies from individual to individual. For a regular income earner, a lower monthly loan will help in saving a big sum of money. On the other hand, for a person whose monthly income is not stable, a loan with flexible monthly payments such as over payments, underpayments or payment holiday will be highly suitable.

Nevertheless, cheap secured loans are obtainable against your valuable collateral. And for that, in case you fail to repay that can put your collateral in danger. So, before applying, you will have to calculate the amount you want to borrow as a loan. Needless to say, should borrow the exact amount, as borrowing a larger amount may become a huge financial burden in future.

Now the question is how can you get a cheap secured loan. It is a bit tough as many lenders offer cheap secured loans to lure people. But in reality, these loans are not at all cheap. Don’t worry. With some effort, you will be able to get a cheap secured loan. First of all, list your requirement- decide the amount you want to borrow, how long would you like the repayment period to be, what amount of monthly instalment are you comfortable with.

Next step is choosing lenders. Besides traditional lenders, you can opt for online cheap secured loans. Even, finding an online cheap secured loan is easier- Just a click brings all data within a minute. And last but not the list, comparative judgement of various quotes will help you to get the best deal.


ASIC Warns Consumers Of Banking Scam

The Australian Securities and Investments Commission (ASIC) has recently warned the public about scammers claiming to be from ASIC.

The announcement was made in connection with the recent activities of Luxembourg Offshore Banking, also known as LUXOSB.  These scammers assert that withdrawals are being processed or withheld by ASIC. Luxembourg Offshore Banking and LUXOSB Limited also claim to offer an investment program called ExpertKonek, through an online trading platform relating to stocks, foreign exchange, cryptocurrencies and indices markets. In reality, neither of these brands are licensed or authorised in Australia to provide financial services. They are also not regulated by ASIC.

According to ASIC, customers are asked to provide proof of ID such as photocopies of a passport and proof of address such as a utility bill, to activate a personal “trading account.” ASIC urges anyone who receives unexpected contact from these entities to simply hang up or delete the email and block the sender. Consumers should contact their bank or financial institution if they have been targeted by the scam or if their bank account has been compromised.

“These are sophisticated scams convincing people to part with their money and provide personal information. The public [needs] to be extremely cautious of these scams and contact their financial institution if they believe their money may be at risk,” said ASIC Commissioner Sean Hughes.

Luxembourg Offshore Banking and LUXOSB Limited are based overseas despite claiming that they are associated with a company in Australia.