What is the Difference Between Secured and Unsecured Loan?

A secured loan is a loan in which you will use your property as a sort of collateral against the loan amount. An unsecured loan, on the other hand is a loan that does not require any sort of security or collateral to be put down against the loan amount. Instead of using your home as collateral for the loan, the lender of an unsecured loan will take a look at your personal credit history.