Types of Unsecured Loans

Here are some types of unsecured loans:

1. Personal Loans: These are the most prevalent unsecured loans available. You can obtain a personal loan from nearly any financial institution for various purposes.
2. Revolving Loans: These loans provide a set amount of credit that you can utilize as needed. A typical example is a credit card with a predetermined credit limit that you can spend at your discretion.
3. Online Loans: These loans are accessible with just a smartphone and are typically for small amounts with brief repayment periods and elevated interest rates. Online loans are commonly utilized to fulfill short-term objectives.