Is Personal Loan a Secured Loan: Everything You Need to Know

A stack of cash and a house deed sit on a table, while a padlock and key symbolize security

If you are in need of cash to fund a project or deal with an emergency, you may be considering taking out a personal loan. However, before you apply for a loan, it is important to understand the different types of loans available and whether they are secured or unsecured. One common question that people have is whether a personal loan is a secured loan.

Understanding Personal Loans:

A personal loan is a type of loan that is issued to an individual rather than a business.