Unsecured Loan

Business, Legal & Accounting Glossary

Definition: Unsecured Loan


Unsecured Loan

Quick Summary of Unsecured Loan


Loan in respect of which the lender has taken no special claim against any assets.



Video Guide For Unsecured Loan




Full Definition of Unsecured Loan


An unsecured loan is one that is not backed by a pledged asset such as the real estate that is security for a mortgage or the auto title that secures an auto loan.

An unsecured loan, also called a personal loan, is backed by your credit rating and your promise to pay.


Related Phrases


Loan
Payday loan
Personal loan


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/unsecured-loan/
Modern Language Association (MLA):
Unsecured Loan. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 19, 2024 https://payrollheaven.com/define/unsecured-loan/.
Chicago Manual of Style (CMS):
Unsecured Loan. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/unsecured-loan/ (accessed: March 19, 2024).
American Psychological Association (APA):
Unsecured Loan. PayrollHeaven.com. Retrieved March 19, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/unsecured-loan/

Definition Sources


Definitions for Unsecured Loan are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th November, 2021 | 0 Views.