Your browser does not support JavaScript! Thank you for visiting For information about our products and services, including assistance with processing an application for credit, please call 877-276-9958 toll-free. Skip to main content

Anyone can have financial problems. Whenever the money going out is more than the money coming in a cash crunch can ensue. A personal loan can keep you afloat till the money starts flowing back the right way. There are basically two types of personal loans. Knowing which works for you is the first step to making it happen.

The two basic types of personal loans are secured and unsecured.

Secured Personal Loan

A secured personal loan is “secured through the pledging of an asset that you have verifiable ownership of. The most common assets required by lenders are your home or your vehicle. Because the lender can claim these assets in the event the loan is not paid back their risk is lower than lenders of unsecured personal loans so you can expect larger loans, lower interest and longer terms.

Unsecured Personal Loan

An unsecured personal loan is completely different than secured loans in every way. Since there are no assets to back the loan, lenders have much higher risk. Due to the higher risk, loan amounts are smaller, interest rates are higher by comparison, and the length of the loans are shorter. While the application process may not be drastically different between the two types of personal loans, due to the riskier nature of unsecured loans, credit checks may be more thorough depending on the amount of the loan.

For rates and terms in your state of residence, please visit our Rates and Terms page. As a member of CFSA, Check Into Cash abides by the spirit of the Fair Debt Collection Practices Act (FDCPA) as applicable to collect past due accounts. Delinquent accounts may be turned over to a third party collection agency which may adversely affect your credit score. Non-sufficient funds and late fees may apply. Automatic renewals are not available. Renewing a loan will result in additional finance charges and fees.