New Delhi, July 18 -- As borrowing aspirations and appetite rise in India, a number of borrowers are turning towards secured personal loans by pledging fixed deposits (FDs), gold or equities. These asset backed loans provide faster approval, lower interest rates and easier approvals in comparison with unsecured lending options.

Lenders find asset-backed loans safer due to availability of collateral, while borrowers enjoy easier and better borrowing terms.

Borrowers can raise money in the form of a loan without having to sell the assets as they can give them as collateral to lenders.

Rajeev Das, CEO of I-Loans and CRO at LoanTap, says "Borrowers can unlock the value of their idle assets without liquidating them. In a country where gold ...