signature loan

Definitions

A personal loan that is granted based solely on the borrower's credit history and promise to repay, without the requirement of collateral.

An unsecured loan backed only by the borrower's signature and creditworthiness rather than physical assets like a home or vehicle.

Examples

Because he had a strong credit score, the bank approved his signature loan without requiring any collateral.

A signature loan can be a convenient way to cover unexpected expenses, provided you meet the lender's income requirements.

Synonyms

unsecured personal loan character loan uncollateralized loan signature-based credit

Antonyms

secured loan collateralized loan asset-backed loan mortgage loan