A Personal Loan is an unsecured loan, which means you don't need to pledge a collateral to receive the funds.
Issued by financial institutions, credit cards give customers a pre-set credit limit which he can use to pay.
Home equity loans allow homeowners to borrow against the equity in their home.
Secured loans are the ones that require collateral where you have to pledge an asset as security while borrowing from the lender.
These are loans that do not require collateral. The lender gives you the money based on past associations, your credit score and history.
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