unsecured loan

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Unsecured Loan

A loan that is not secured by an asset or lien, but rather by the all issuer's assets not otherwise secured. This means that an unsecured liability carries no collateral; in case of bankruptcy, the bondholder is considered a general creditor. Thus, the bondholder is paid out of funds that do not have a prior claim on them with a secured debt. Like most bonds, an unsecured bond is tradeable. Some unsecured bonds, such as Treasury securities, are considered risk-free.

unsecured loan

money BORROWED by a company or individual without offering any COLLATERAL SECURITY to the lender.

unsecured loan

A loan without collateral.
References in periodicals archive ?
The original test case covered the period from 1999 to 2008 and unsecured loans of between PS25,000 and PS30,000 which used the same documentation as smaller loans which are subject to the 1974 Consumer Credit Act.
The original test case covered 999 to 2008 and unsecured loans of between PS25,000 and PS30,000 which used the same documentation as smaller loans subject to the Consumer Credit Act.
The service consists in the granting of unsecured loans 3 fortnightly at variable rates.
Global Banking News-April 18, 2014--National Bank of Greece to offer senior unsecured loans
While some contest that unsecured loans are better due to the fact that no collateral is required, others claim that secured loans come with higher approval statistics and relatively lower interest rates.
DLF gave Robert Vadra unsecured loans, what benefit did Vadra give to DLF to secure these loans," he said.
Unsecured loans are not backed by collateral, which means the lender has little or nothing to repossess if you default on the loan.
MORTGAGE lending continued to hold up in November, but unsecured loans to consumers dropped while personal deposits increased by less than in recent months, new figures from the British Bankers' Association (BBA) have revealed.
UNSECURED LOANS (pounds 5,000 over 36 months) Without insurance yourpersonalloan.
5billion was advanced in unsecured loans during 2006, after a difficult year in 2005 when greater economic and housing market uncertainty dampened people's willingness to borrow, market analyst Datamonitor said.
Northern Rock preferred to make unsecured loans to people it knew, who had already qualified for the mortgage, rather than to someone who happened to have walked into a car showroom.
The DOL finalized an amendment to omit a three-day repayment requirement from the interest-free, unsecured loans it permits for plans when the ability to pay benefits is in jeopardy.