OverviewAn unsecured personal loan is money borrowed from a lender that is not secured by property such as a house or car. The loan is repaid over a fixed period of time. While most loans through Upstart are unsecured, certain credit unions may place a lien on other accounts you hold with the same institution. There may be an option to secure your personal loan through Upstart with your vehicle, which will require a lien to be placed on the vehicle. It is important to review your promissory note for these details before accepting your loan.Unsecured personal loans provide borrowers with a lump sum of money to use for various financial needs, such as debt consolidation, home improvements, medical expenses, or other large purchases. Unlike credit cards, personal loans have a structured repayment schedule with a fixed interest rate, making monthly payments predictable. This guide explains how unsecured personal loans work, what to expect during the application process, and key considerations before borrowing.1. How Unsecured Personal Loans Work, Unlike credit cards, personal loans have a structured repayment schedule with a fixed interest rate, making monthly payments predictable. This guide explains how unsecured personal loans work, what to expect during the application process, and key considerations before borrowing., Overview Understanding loan terms, interest rates, and repayment options can help you choose the best loan for your financial situation. This guide explains how interest rates and APR differ, how loan terms impact repayment, and what factors influence the cost of your loan. Fixed Interest Rates vs. APR Interest Rate – This is the percentage charged on the principal amount of the loan. It .