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English definition of “unsecured loan”

unsecured loan

noun [C]
 
 
( also signature loan) FINANCE
a loan for which the lender has no right to the property or other assets of the borrower if the money is not paid back: They will offer unsecured loans to anyone over 22 with comprehensive motor insurance.
(Definition of unsecured loan from the Cambridge Business English Dictionary © Cambridge University Press)
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