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Glossary > U > "Unsecured loan" Definition

Unsecured loan

A loan where the lender has no entitlement to any of the borrower"s assets in the event of the borrower failing to make the loan repayments. Such a loan normally carries a higher interest rate than a secured loan.

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Unsecured loan - A loan where the lender has no entitlement to any of the borrower"s assets in the event of the borrower failing to make the loan repayments. Such a loan normally carries a higher interest rate than a secured loan.

Unsecured loan : a loan where the lender has no entitlement to any of the borrower"s assets in the event of the borrower failing to make the loan repayments. such a loan normally carries a higher interest rate than a secured loan.