Definitions for "Unsecured loans"
Loans that are raised without any collateral. Unsecured loans generally have a higher rate of interest than secured loans associated with them because of their riskiness.
Loans for which there are no guarantors or co-signors and no specific assets have been pledged by the borrower as collateral to secure the loan.
Loans such as credit card and other revolving debt, which present a greater risk for lenders than real estate loans because they are not "secured" by property.