unsecured loan

American  

[uhn-si-kyoord lohn] / ˌʌn sɪˈkyʊərd ˈloʊn /

noun

Finance.

1. a loan that is supported only by the borrower’s creditworthiness and income and does not require the borrower to put up collateral, as a home or vehicle, to back up the loan. A personal loan made to someone is usually an unsecured loan.

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Etymology

Origin of unsecured loan

First recorded in 1905–10

Example Sentences

It maintained the secured and unsecured loan rates at 2.375% and 4.250%, respectively.

From The Wall Street Journal

The Indian bank sees further improvement in its unsecured loan segment and 2H FY 2025 is seasonally better for its secured loan segment.

From The Wall Street Journal

The seller later agreed that the funds transferred to him would be treated as an unsecured loan, and that Mr Tripathi could therefore use it for his own purposes, his lawyers added.

From BBC

Another unsecured loan for $600 million was granted at such a low interest rate that it makes sense for Alaska to keep it on the books.

From Seattle Times

Subject to approval by the FCA in the next fortnight, the second tranche of a personal, unsecured loan of £1m from Graves will be advanced to the club.

From BBC