A personal loan has higher interest rates than secured loans like a home-equity loan, but you are not required to put up any collateral to ensure repayment.

Definition An amount given to an individual to use for personal benefit that must be paid off at a specified time.

A lump sum that you borrow from a financial institution for a specified period of time. To repay the loan, you pay jump to

An amount of money borrowed from a bank or other lender by an individual.

Loans given without collateral, usually with high-interest rates and short-time limits for payment.

A Personal Loan is a form of unsecured loan

A type of unsecured loan, meaning not tied to any property, for personal use and typically based on creditworthiness and other factors.

A low-value loan for personal use such as to buy a car or take a holiday. These loans are usually not secured by an asset and are usually payable over 2-7 years.

Another form of finance where you agree to pay a monthly payment, similar to hire purchase. However with personal loan you own the vehicle from the beginning, as it is not secured against the vehicle. [..]

A personal finance product where the financier lends the customer funds which can be used to purchase a car or other vehicle, but does not hold any security over the loan.

Money borrowed from a lender where property is not used as collateral. The rates are higher, like credit cards, and are generally smaller denominations over a two year period.

A personal loan means something lent for the borrower's temporary use for other than business reasons. It can be a sum of money that is given by one party to another for a limited period of time. [..]

A low-value loan for personal use such as to buy a car or take a holiday. These loans are usually not secured by an asset and are usually payable over 2-7 years.

Unsecured loans to private individuals for personal use such as the purchase of a car, holiday, wedding, debt consolidation or home improvements.