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 ?
NatWest charges interest at 11.9 per cent on unsecured loans between pounds 10,000 and pounds 14,950.
MONEY owed on credit cards, overdrafts and unsecured loans by British consumers has hit a record pounds 128.3 billion, according to the latest statistics.
Stephen Hinchliffe, 51, paid bank manager John Doherty pounds 800,000 in back-handers in return for the millions in unsecured loans.
Wells Fargo Bank has earmarked a hefty $10 billion in revolving and unsecured loans for women entrepreneurs for a 10-year period.
BANKING AND CREDIT NEWS-July 25, 2018--India's Paisabazaar.Com to extend more unsecured loans
M2 EQUITYBITES-July 25, 2018--India's Paisabazaar.Com to extend more unsecured loans
Global Banking News-July 25, 2018--India's Paisabazaar.Com to extend more unsecured loans
Summary: New Delhi [India], Nov 21 (ANI-NewsVoir): HDFC Bank and Paisabazaar.com has announced that they have disbursed unsecured loans worth Rs.
UNSECURED LOANS (pounds 5,000 over 36 months) With insurance UNSECURED LOANS (pounds 10,000 over 60 months) With insurance Alliance & Leicester www.alliance-leicester.co.uk 8.9% pounds 186.15 Alliance & Leicester www.alliance-leicester.co.uk 8.9% pounds 264.77
Moneyfacts said that although unsecured loans were not directly linked to the Bank of England base rate, a trend had emerged among lenders to "tweak" their rates quickly following a rise in the cost of borrowing.
Lord Oakeshott said: "It is very unusual, particularly for subordinated unsecured loans of this type.
The BOJ said a 146.4 billion yen portion of its outstanding unsecured loans to Yamaichi Securities Co., which went belly-up in November 1997, is likely to eventually be written off as losses.